Stake increased in ethical bank
NETHERLANDS - Dutch pension schemes ABP and PGGM have underlined their sustainable investment ambitions by increasing their stake in ethical bank, Triodos, to over 5% as part of the bank's release of over one million new shares.
Else Bos, chief executive officer at PGGM, said the fund had increased its stake because it connected with its belief that financial and social returns would go together in the long term.
A spokesman for PGGM said the organisation wanted to stimulate and encourage developments in the sustainable investment sector.
PGGM’s investment comes after it recently awarded its first mandate in sustainable managed forestry plantations to US manager GMO.
Both ABP and PGGM also recently awarded a €500m mandate to their joint investment vehicle AlpInvest Partners, to invest in clean technology.
Speaking at the time, Thijs Steger, a spokesman for the ABP fund, said the portfolio decided to invest in clean technology because it could deliver good returns in the future.
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