NETHERLANDS - Spoorwegpensioenfonds (SPF), the €12.1bn Dutch railway pension fund has said it recently signed up for the Principles of Responsible Investment (PRI) and the Carbon Disclosure Project (CDP).

SPF, one of the funds that was criticised by last year's infamous Zembla news documentary on Dutch funds and their unethical investment practices, said it will now adhere to the guidelines the PRI gives to investors in relation to responsible investing.

By adhering to the PRI, drafted by the United Nations, the fund says it is giving further structure to its new social responsible investment (SRI) policy it started last year.

"In line with this development, SPF Beheer [the pension provider arm of the fund] last week conformed to the Carbon Disclosure Project," a spokesman said.

CDP is a global standardised mechanism by which companies report their greenhouse gas emissions to their investors, co-funded by giant pension fund ABP in the Netherlands.

The aftermath of Zembla caused a small revolution among Dutch pension funds last year, which saw pension funds begin to start publishing their equity holdings, for instance, and amending their social responsible investment policies.

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