Giant Dutch pension asset manager PGGM is the latest global investor to join the Climate Bonds Partner Programme.
What’s it all about?
PGGM is the third largest asset management firm in the Netherlands* with EUR 218 billion** AUM and has been active in the green bonds space for many years, building an overall green bonds exposure of more than EUR 1 billion.
A long term advocate for good corporate governance and leading exponent of responsible investment, PGGM is a member of the Principles for Responsible Investment (PRI), supports the Sustainable Development Goals (SDGs) and works on a cooperative basis on sustainability and ESG based investment issues.
The partnership will see both organisations working together on green finance and climate investment projects. PGGM manages investments and services on behalf of Dutch health industry pension fund PFZW and intends to half the CO2 footprint of the assets of PFZW between 2015 and 2020. In that same period PGGM is mandated to grow impact investments to EUR 20 billion. Green bonds are an important part of this aim.
Who’s saying what?
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Ido de Geus, Head of Fixed Income, PGGM
Ido de Geus, Head of Fixed Income, PGGM“At PGGM, we believe in a future in which not only finances are in good shape, but also living conditions for generations to come. We thus actively seek a climate impact through our investments, not as an add-on, but as part of our core business.”
“Teaming up with the Climate Bonds Initiative is a great opportunity for PGGM to promote climate change action by backing green bond issuance. We are keen to see more issuance across sectors, regions and currencies, including emerging markets and products other than plain vanilla.”
“Stronger market breadth and depth will not only satisfy our need for diversification – it will make it easier to find climate investments that match our fiduciary duties. It will also help to raise the private capital that’s so urgently needed for the global transition to a low carbon economy.”
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Manuel Adamini, Director Investor Outreach & Partners Programme, Climate Bonds Initiative
Manuel Adamini, Director Investor Outreach & Partners Programme, Climate Bonds Initiative“The Netherlands is a booming green bonds market (reaching the 7th largest issuer spot in 2017) and has already displayed great climate finance leadership and innovation.”
“PGGM has an important Dutch and international presence and has been active in the green bond and SRI market for many years. We are proud to be joining forces to help promote sustainable investments and climate finance solutions in the Netherlands, Europe and beyond.”
“2018 will be the year of further market maturation, spurred by sovereign issuance in developed as well as emerging markets and harmonisation of market guidance and standards. We will see a stronger linkage between green investment, climate targets and SDG goals. As a large investor of patient capital, PGGM is well paced to work jointly with Climate Bonds on our 2020 and longer-term goal to build deep and robust climate finance markets globally.”
The Last Word
We welcome pensions-based PGGM to our Partner network. Partners assist in developing climate finance solutions, market development committees and help define policy agendas for national, regional and sector-based programs.
PGGM’s international perspective and presence across investment markets will be invaluable as we extend our development programs in OECD and emerging economies.
Welkom, PGGM!
'Till next time,
Climate Bonds
Contact PGGM Communications
Maurice Wilbrink
+31 30 277 1500
* Based on IPE Top 400 (2017)
** As at 31 December 2017.
