Statement about investments in Myanmar

In view of recent reports about Myanmar, PGGM is announcing the following with respect to investments in this country which we manage for our clients. Since the army coup in February, Myanmar has been ruled by a military junta. PGGM is extremely concerned by this situation.

PGGM does not directly finance the Myanmar government. We follow the sanctions of the European Union (EU) against this country and consequently exclude investments in Myanmar government bonds.

Our managed investments in listed companies with interests in Myanmar are part of a globally distributed, passively managed investment portfolio. We want this portfolio to at least meet the guidelines for corporate social responsibility, as drawn up by the OECD. Human rights are an important aspect which we consider in our investments, as well as financial aspects and impact on the environment and climate.

To establish this, we regularly screen all the investments using data from an external independent data supplier. If any businesses are found to be seriously violating these standards, we may consider selling our shares in them. For other serious offenders, PGGM may exert its influence as a shareholder.

PGGM is now carefully studying the role of the companies mentioned in Myanmar. Our investigation will also use any new information from our data supplier. This analysis, in combination with our investment policy, will determine our subsequent actions.