NETHERLANDS - The €2.8bn Dutch pension fund PNO Media will today launch a new website entirely dedicated the fund's responsible investments, in a bid to appease member funds' demand for more social responsibility.
Together with British Telecom pension fund's Hermes Equity Ownership Services the fund has set up the site, pnomediaverantwoordbeleggen.nl, with the aim of being a front runner in responsible investing.
"Through the new internet site PNO has invested consciously in transparency and in its our ambition fulfil an example function in the field of responsible investing," the fund said in a statement.
It is PNO's latest move in a series of SRI improvements initiated since it came under member scrutiny last year.
The fund announced in February it had restructured its socially-responsible investment (SRI) policy, and tapped Hermes Equity Ownership Services as external SRI adviser.
The move followed after the pension scheme of broadcasting organisation Llink threatened to leave the fund last year after research showed PNO invested in companies involved in arms trade, major pollution and violation of human rights.
PNO - representing 30,000 members across the Dutch media industry - subsequently drafted a new code for socially-responsible investing.
Under the new code, PNO now also publishes all the unlisted equity holdings, next to its listed equity, while expanding its exclusion list with eleven companies involved in the production of arm and nine companies which make or sell products containing fur.
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