Stichting Pensioenfonds voor de Woningcorporaties (SPW) is the Dutch pension fund for employees in the rent-controlled housing sector. It manages the pensions for around 67,000 participants at 369 companies and as of June 2019 holds over €12.5 million in invested assets.[1]
SPW’s responsible investment and stewardship policy excludes companies involved in the production, sale or distribution of cluster munitions, anti-personnel mines, chemical and biological weapons and nuclear weapons from investment. SPW has outsourced the management of its financial assets to APG.[2]
The exclusion policy is applied to all of SPW’s asset management activities, as carried out by APG and other external asset managers.
As of January 2019, the following companies are excluded from investment for involvement in nuclear weapons: China Aerospace International Holdings; China Spacesat; Aecom; Aerojet Rocketdyne Holdings, Airbus; Babcock International Group; BAE Systems; Bharat Dynamics; Boeing Company; BWX Technologies; China National Nuclear Power; China Shipbuilding Industry Company; China Shipbuilding Industry (CSIC); CNIM; CNNC International; Cohort; Dassault Aviation; Ducommun Incorporated; Engility Holdings; Fluor Corporation; General Dynamics; GP Strategies; Harris; Honeywell Automation; Honeywell International; Huntington Ingalls Industries; Jacobs Engineering Group; L&T Finance Holdings; L&T Technology Services; Larsen & Toubro; Larsen & Toubro Infotech; Leonardo; Lockheed Martin; Moog; Northrop Grumman; Raytheon; Safran; Serco; Sgl Carbon; Sufa Technology Industry; Tata Communications; Tata Power; Textron; Thales and Walchandnagar Industries.[3]
Website: https://www.spw.nl/
[1] SPW, “Goed voor elkaar. Jaarverslag 2018” (Annual report 2017), page 11-12, available at https://www.spw.nl/images/spw-jaarverslag-2017.pdf, last viewed 12 March 2019.
[2] SPW, “Verantwoord Beleggen & Stewardshipsbeleid” (Responsible Investment & Stewardship policy) page 12, available at https://www.spw.nl/images/Beleid_Verantwoord_Beleggen_Stewardship.pdf, last viewed 12 March 2019.
[3] SPW, “Lijst van Uitsluitingen” (List of Exclusions), January 2019; available at https://www.bpfbouw.nl/images/BpfBOUW%20-%20Lijst%20met%20uitsluitingen%20januari%202019.pdf, last viewed 12 March 2019.