Philips Pension Fund is a Dutch mandatory corporate retirement plan. It offers pension services to employees of Philips Electronics in The Netherlands.[1] In 2016, Philips Pension Fund had over 101,218 participants.[2] As of the end 2016, the fund held €18,799 million in net assets.[3]
In 2008, Philips Pension Fund started to integrate environmental, social and governance (ESG) criteria to its investments. This resulted, among other things, in the implementation of an exclusion list. Philips Pension Fund’s exclusion policy states that the pension fund does not wish to invest in companies that are involved in the manufacture of controversial weapons. It includes five types of weapons in this category: anti-personnel mines, biological weapons, chemical weapons, cluster munitions and nuclear weapons.[4] Philips Pension Fund has clarified that it also excludes companies that are in any other way involved in delivery systems specifically designed for nuclear weapons.[5]
Philips Pension Fund’s exclusion policy applies to all asset management activities.[6] Annually, the Fund draws up a list of excluded companies.[7] The list is based on information from different external research organisations and is not publicly available.
Website: www.philipspensioenfonds.nl/
Twitter: @PhilipsPensioen
Facebook: https://www.facebook.com/philipspensioen
[1] Philips Pension Fund, “Organisatiestructuur”, website Philips Pension Fund (http://www.philipspensioenfonds.nl/over-philips-pensioenfonds/organisatiestructuur/), viewed 23 January 2018.
[2] Philips Pension Fund, “English Summary 2016 “, p.161, available at https://www.philipspensioenfonds.nl/philips/assets/File/Jaarverslag/Jaarverslag%20Philips%20Pensioenfonds%202016%20-%20english%20summary.pdf, viewed 23 January 2018.
[3] Philips Pension Fund, “English Summary 2016 “, p.158, available at https://www.philipspensioenfonds.nl/philips/assets/File/Jaarverslag/Jaarverslag%20Philips%20Pensioenfonds%202016%20-%20english%20summary.pdf, viewed 23 January 2018.
[4] Philips Pension Fund, “Beleid”, website Philips Pension Fund (https://www.philipspensioenfonds.nl/over-philips-pensioenfonds/esg/beleid/), viewed 23 January 2018.
[5] Philips Pension Fund, written response to PAX, dated 7 November 2017.
[6] Philips Pension Fund, “Jaarverslag 2015”, p.41, available at https://www.philipspensioenfonds.nl/philips/assets/File/Jaarverslag/Jaarverslag%20Philips%20Pensioenfonds%202015.pdf, viewed 23 January 2018; Philips Pension Fund, written response to PAX, dated 7 November 2017.
[7] Philips Pension Fund, “Beleid”, website Philips Pension Fund (http://www.philipspensioenfonds.nl/over-philips-pensioenfonds/esg/beleid/), viewed 23 January 2018.
Last modified March 2018