The Board does not only take financial aspects into account in defining and implementing its policy: It also observes aspects that are essential to achieving sustainable and inclusive social progress. The fund has developed its own policy in relation to this and bases its SRI policy on the following cornerstones:
We do not invest in activities in companies and countries that the United Nations, the European Union, or the Dutch government consider unacceptable or which run counter to the standards and values of the UN Global Compact's Ten Principles. Controversial weapons are also excluded from investment.
State bonds of countries that are under sanction by the United Nations or the European Union are excluded from the investment universe. The fund also has a sanctioning policy against individuals and terrorist organizations. For the most part, these sanctions relate to human rights and weapons issues.
The fund is transparent with regard to the investments it holds and communicates openly on its policy in the area of SRI. The fund's website publishes the names of the companies, countries, and investment funds in which it invests.
In 2018 SPF signed the Covenant for International Socially Responsible Investments (“Internationaal Maatschappelijk Verantwoord Beleggen covenant”) for the Dutch pension sector. This Covenant is based on the OECD “Guidelines for Multinational Enterprises” and the UN “Guiding Principles on Business and Human Rights.” The OECD guidelines help companies to deal with issues such as human rights, child labor, the environment, and corruption.
By signing the covenant, SPF undertakes to incorporate the OECD guidelines and UN guiding principles in its sustainability policy and in its contracts with external service providers.