NETHERLANDS - The €19bn PME has invested €250m, or roughly 1.5% of its total assets, in a forestry project.
The fund, which covers the metal and electro-technical engineering industry, said it had agreed with the managers of the project prior to investing to shift towards sustainable forestry "in a manner that would meet the criteria of the international FSC certificate for sustainable forestry" within the next three years.
"From now on, the efforts to get a FSC certification will change the way the whole project is managed, not just PME’s part," the fund said in a release.
PME signed up to the Principles for Responsible Investments in mid May this year.
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