Pensioenfonds Horeca & Catering
Pensioenfonds Horeca & Catering [PH&C] is the Dutch mandatory pension fund for the hospitality and catering industry. Pensioenfonds Horeca & Catering has about 850,000 participants.[i]
In 2014, PH&C extended its responsible investment policy. The pension fund excludes investments in a range of controversial weapons, including nuclear weapons. In the 2014 Don’t Bank on the Bomb report, PH&C was listed in the Runners-Up category, because the policy did not apply to all types and all activities of nuclear weapons companies. The updated policy comprehensively covers companies involved in production, research and development, sales/ trade, management/services/maintenance and specifically designed delivery systems.[ii]
PH&C applies its exclusion policy to all its asset classes. PH&C works only with external asset managers who are also required to comply with the policy.[iii]
The pension fund makes use of an exclusion list based on research by Sustainalytics.[iv] The exclusion list currently contains 29 companies for involvement with nuclear weapons: AECOM; Airbus; Babcock International; Babcock & Wilcox; BAE Systems; Boeing; CACI International; CNIM; Dassault Aviation; Exelis; Fluor; GenCorp; General Dynamics; Honeywell International; Huntington Ingalls; Jacobs Engineering; Kratos; Larsen & Toubro; Lockheed Martin; ManTech International; Northrop Grumman; Oceaneering; Orbital ATK; Raytheon; Rockwell Collins; Rolls Royce; Safran; Serco and Thales.[v]
Congratulations Pensioenfonds Horeca & Catering!Read the petition
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I saw on www.dontbankonthebomb.com that you have a comprehensive policy prohibiting investments in nuclear weapons producing companies.
Financial institutions like yours are helping to build the stigma around these inhumane weapons, something that is urgently needed. Nuclear weapons are the only weapon of mass destruction that’s not explicitly outlawed through an international treaty- and thanks to your policy we can show how important and necessary it is that all of society act urgently to prohibit and eliminate nuclear weapons once and for all.
Thank you for your help in creating a nuclear weapons free world.
With kind regards,
[i] Pensioenfonds Horeca & Catering, “About us”, website Pensioenfonds Horeca & Catering (http://www.phenc.nl/en/About_us/About_us/About_Pension_Fund_Horeca_and_Catering/About_us), viewed 17 June 2015.
[ii] Pensioenfonds Horeca & Catering, written response to PAX dated June 16 2015.
[iii] Pensioenfonds Horeca & Catering, written response to PAX dated June 16 2015.
[iv] Pensioenfonds Horeca & Catering, written response to PAX dated June 16 2015.
[v] Pensioenfonds Horeca & Catering, “Lijst van uitgesloten beursgenoteerde ondernemingen”, 8 April 2015, available at http://www.phenc.nl/~/media/Phenc%202013/Documenten/Vermogensbeheer/150408_Lijst%20van%20uitgesloten%20beursgenoteerde%20ondernemingen%20Q22015.pdf, viewed 17 June 2015.