The pension fund has tightened its exclusion policy by also excluding all Russian companies. Russian government bonds were already excluded on the basis of EU sanctions.
At the start of this month, we communicated about the crisis in Ukraine, the significant humanitarian consequences, and the impact on the economy. The situation has not improved and, unfortunately, a peaceful solution does not seem close at hand.
Because of the combination of the situation of war and the specific situation in Russia, in which a significant proportion of companies are controlled or owned by the state to some degree, the exclusion is being expanded to include all Russian companies.
A number of countries and companies are implementing increasing sanctions and the consequences for the economy are already clearly evident but remain unpredictable. The pension fund will continue to closely monitor all developments.
Link to the previous newsitem.
For more information about our investment policy and what we as PDN invest in, please visit Sustainable and responsible investing on the PDN website.