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Dutch pension funds and asset managers remain optimistic about the achievements and potential of the IMVO Covenant, despite a report finding that they are far behind schedule on implementing it.
The Covenant is one of a number of sectoral agreements on responsible business conduct facilitated by the Dutch government and involving NGOs, businesses and trade unions. Agreements have been signed in a number of sectors including banking, the gold trade and the garments and textile industry.
Under the agreement, pension funds commit to integrating the OECD Guidelines for Multinational Companies and the UN Guiding Principles (UNGPs) on human rights into their investment policies.
The agreement was initially signed by 73 pension funds in December 2018 representing €1.18tn assets under management (AUM), as well as six NGOs and t…