Delta Lloyd Group is a Dutch financial institution that offers products and services in the areas of insurance, pensions, investing, and banking.[i] At the end of 2015, it had over € 70,012 million total assets under management.[ii]
Delta Lloyd’s responsible investment policy states: “Companies that are involved in the production of or trade in controversial weapons are excluded from the investment universe.”[iii] Delta Lloyd’s definition of controversial weapons was expanded in 2013 to include nuclear weapons.[iv]
Both internal and external asset managers of Delta Lloyd must comply with the exclusion policy. The policy is applied to all of Delta Lloyd’s banking activities.[v]
In the third quarter of 2016, the following companies were excluded for involvement with nuclear weapons: AECOM Technology Corp; Aerojet Rocketdyne (formerly GenCorp); Airbus Group; Areva; Babcock International Group; Boeing Corporation; BWX Technologies (formerly Babcock & Wilcox); CACI International; China Aerospace International Holdings; China National Nuclear Power Co.; China Shipbuilding Industry Co. Ltd; CNIM; CNNC International Ltd; Dassault Aviation; Ducommun Inc; Fengfan; Finmeccanica; Fluor Corporation; General Dynamics Corp.; Guandong Orient Zirconic Ind.; Harris Corporation; Honeywell Corporation; Huneed Technologies; Huntington Ingalls Industries Inc.; Jacobs Engineering; Kratos Defense & Security; Larsen & Toubro; L&T Finance Holdings Ltd.; Lockheed Martin; ManTech International; Northrop Grumman Corp; Oceaneering; Orbital ATK; Raytheon Co.; Rockwell Collins; Rolls Royce Holdings; Safran SA; Serco Group; Sufa Technology; Technofan SA; Thales, and; Walchandnagar Industries.[vi] The exclusion list is based on the findings of external research company Sustainalytics.[vii]
We commend Delta Lloyd for adopting a public policy on nuclear weapons. Below the threshold investments in nuclear weapon producers listed in this report hold Delta Lloyd back from entering the Hall of Fame. We recommend Delta Lloyd divest from the remaining nuclear weapons associated companies in its portfolio, so that it may be listed in the Hall of Fame in a future update of this report.
Delta Lloyd’s policy on nuclear weapons is leaky; send them a message and tell them to fix it!
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Congratulations Delta Lloyd. I saw on www.dontbankonthebomb.com that you have a policy limiting investments in nuclear weapons. I think it’s really important that you share my concern about these weapons, and I appreciate that there is a public policy.
However, the policy does have some loopholes and the Don’t Bank on the Bomb report shows how you still invest in nuclear weapons producers. I am concerned about this, because Delta Lloyd also invests my money and I don’t want to be associated in any way with the production of these inhumane weapons.
It would be great if Delta Lloyd would divest from the remaining nuclear weapons associated companies in its portfolio.
With kind regards,
[i] Delta Lloyd, “Company profile”, website Delta Lloyd (http://www.deltalloydgroep.com/en/about-delta-lloyd/company-profile/), viewed 3 October 2016.
[ii] Delta Lloyd, “Annual Report 2015”, website Delta Lloyd (http://www.deltalloyd.com/annualreport/sustainability/pillars/responsible-investment), viewed 13 June 2016.
[iii] Delta Lloyd, “Responsible Investment Policy Delta Lloyd Asset Management”, April 2012, p.2, available at (http://www.deltalloydassetmanagement.nl/media/43364/20120412_responsible_investment_policy_delta_lloyd.pdf), viewed 13 June 2016.
[iv] Delta Lloyd, “Exclusions”, website Delta Lloyd (http://www.deltalloydassetmanagement.nl/en-gb/about-us/mvo/exclusions/), viewed 13 June 2016.
[v] Delta Lloyd, correspondence with Profundo dated 23 May 2014.
[vi] Delta Lloyd, “Exclusion Controversial Weapons, Q3 2016”, 2016, available at http://www.deltalloydassetmanagement.nl/media/544005/Controversial%20Weapons%20Exclusion%20List%20Q3%202016.pdf, viewed 23 November 2016.
[vii] Delta Lloyd, written response to Profundo dated 23 May 2014.