Interesting local news today. In this country, people are usually oblidged to pay their pension money to the insurer selected by their employer. It is no surprize there is a LOT of money in these funds, think in terms of 14 times ones expected yearly gross income when retiring. ABP is the pension fund of the government and with 200 billion euro’s (over 240 billion US dollars) it is the number 2 ranked pension fund in the world. It invests in about 4.000 funds. PGGM is the fund of the healthcare workers and is managing a small 70 billion euro’s (85 billion US dollars) in over 3.000 funds.
Both have announced not only to give full transparancy about the funds they invest in, but also that they are cancelling all stocks in the
weapons land-mine and cluster bombs industry. The criteria are a but loose still (the company involved must make 50% or more in the weapons that market), but it is a start. There are also environmental standards, such as not investing in “wrong wood” companies.
I say: Goodie. People don’t want their pension money invested in death producing corporations, and the funds are starting to listen. I mean, come on, the health workers fund!!!Православни икони