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NB. The reports only lists a small ranking of pension funds. A full ranking of all funds an be found on this page.
VBDO launches revised edition of pension fund benchmark
The Dutch Association of Investors for Sustainable Development (VBDO) has launched the latest edition of its Benchmark on Responsible Investment by Pension Funds in the Netherlands 2024, a key tool designed to drive sustainable investment practices among Dutch pension funds. Marking a significant evolution in the assessment of responsible investment (RI), guided by the motto, as VBDO states: “Put your money where your mouth is”.
As an annual assessment, the VBDO benchmark evaluates the responsible investment activities of the 50 largest Dutch pension funds, which collectively manage approximately €1.44 trillion in assets. This year’s update offers a more profound and more comprehensive approach, assessing funds based on four critical areas: Governance, Strategic Asset Allocation (SAA), Portfolio, and Individual Investments.
Detailhandel Secures Top Position Amid Heightened Standards
This year, Pension Fund Detailhandel emerged as a leader. Detailhandel shows a strong performance driven by an ambitious policy that was developed internally. This is reflected in their active ownership of several topics, such as biodiversity and labour rights. Pension Fund TNO emerged as the top-performing fund in its category, Small Funds.
New Methodology Reflects Dynamic Sustainability Needs
In response to evolving global standards and increasing awareness of sustainability risks, the 2024 benchmark introduces a revised methodology that moves beyond regulatory compliance. This year’s model emphasises active ownership and encourages pension funds to think more strategically about sustainability contributions. Notably, the new methodology shifts the focus towards actions that reflect a pension fund’s unique role as a key asset owner capable of influencing positive change across industries and economies.
“Pension funds are no longer just financial stewards; they are becoming central players in advancing sustainable practices,” said Angélique Laskewitz, Executive Director of VBDO. “With this new benchmark, we’re pushing the sector not only to adopt responsible investment practices but to truly integrate them, reflecting a commitment to meaningful, measurable change.”
Key Findings Highlight Sector Progress and Areas for Improvement
The 2024 report reveals significant trends within the Dutch pension fund sector. One such prominent finding is the increase in pension funds addressing biodiversity through corporate engagement and voting activities. The benchmark shows that three-quarters of participating funds now include biodiversity in their RI policies, indicating a growing commitment to protecting natural capital alongside financial assets. Additionally, the report highlights a narrowing performance gap among pension funds, with small and medium-sized funds increasingly competing with larger ones in adopting advanced ESG practices.
The benchmark also highlights other critical areas, including enhanced board diversity, more inclusive governance structures, and deeper incorporation of ESG factors in strategic asset allocation. It notes that while many funds excel in governance and ESG integration, more consistent efforts are needed to achieve broad-based impact across all asset classes.
Next Steps: Leveraging the Benchmark for Broader Sectoral Change
With the 2024 benchmark results available, VBDO encourages all pension fund stakeholders and board members to engage with the findings: “Use them as a foundation for strategic discussions on the future of responsible investing,” Laskewitz points out. “We created the benchmark as a learning tool for growth by and for the sector. It’s up to them to use it: we can write the book for them, but we can’t make them read it.”
VBDO’s benchmark is freely accessible, empowering pension fund boards, asset managers, and policy advisors to identify improvement areas and implement forward-looking, sustainable strategies.
