Dutch pension fund PFZW announced Tuesday it intends to cut in half its holdings in companies that produce the largest carbon dioxide footprint by 2020.
The €161.7 billion ($174 billion) Pensioenfonds Zorg en Welzijn, Zeist, Netherlands, said in a posting on its website it will reduce investments in the “most polluting” companies in industries such as mining and electricity production, and at the same time engage in a dialogue with those companies to discuss how to reduce those carbon dioxide emissions.
PGGM, the pension fund’s money manager, announced in October that it has mapped the carbon dioxide footprint of its €20 billion real estate portfolio with the assistance of data analytics platform GeoPHY. The manager can now map the CO2 footprint of its entire real estate portfolio — both listed and private — down to individual buildings.
Officials at PFZW and PGGM were not available by press time for additional information.
