Pensioenfonds Horeca & Catering
Pensioenfonds Horeca & Catering [PH&C] is the Dutch mandatory pension fund for the hospitality and catering industry serving over 1 million participants. In 2015, PH&C had €7612 million in invested assets.[i]
PH&C excludes investments in a range of controversial weapons, including nuclear weapons. The 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]
As of 15 June 2016, the exclusion list contains 33 companies for involvement with nuclear weapons: AECOM Technology Corporation; Aerojet Rocketdyne Holdings Inc.;[v] Airbus Group N.V.;[vi] Babcock International Group; BAE Systems plc; Boeing Corporation; BWX Technologies Inc.; CACI International Inc.; China Shipbuilding Industry Company Limited; CNIM SA; Dassault Aviation SA; Duocommun Incorporated; Finmeccanica SpA; Fluor Corporation; General Dynamics Corporation; Harris Corporation; Honeywell International Inc; Huntington Ingalls Industries Inc.; Jacobs Engineering Group Inc.; Kratos Defense & Security Solutions; Larsen & Toubro Ltd.; Lockheed Martin Corporation; ManTech International Corporation; Northrop Grumman Corp.; Oceaneering International Inc.; Orbital ATK Inc; Raytheon Co.; Rockwell Collins Inc.; Rolls Royce Holdings plc; Safran SA; Serco Group; Thales, and; Walchandnagar Industries Limited.[vii]
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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, “De cijfers website Pensioenfonds Horeca & Catering (http://www.phenc.nl/nl/Over_het_pensioenfonds/Wat_doet_het_pensioenfonds/Wat_doet_het_pensioenfonds/De_cijfers), viewed 23 May 2016. Pensioenfonds Horeca & Catering, written response to PAX dated June 7, 2016.
[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] GenCorp renamed itself in 2015 and is now known as Aerojet Rocketdyne.
[vi] GenCorp renamed itself in 2015 and is now known as Aerojet Rocketdyne.
[vii] Pensioenfonds Horeca & Catering, “Lijst van uitgesloten beursgenoteerde ondernemingen”, 15 June 2016, available at http://www.phenc.nl/~/media/Phenc%202013/Documenten/Vermogensbeheer/160616_Lijst%20van%20uitgesloten%20beursgenoteerde%20ondernemingen%20Q32016.pdf, viewed 3 August 2016.