Dutch pension fund PME has announced plans to broaden its current climate plan to include targets for asset classes other than equities.

The pension fund published its first climate plan at the end of 2022, which included a goal of reducing the absolute CO2 emissions of its equity portfolio by half by 2030. In its latest update, the pension fund said it has now more than achieved this goal, so is adding new targets.

Its plan now includes climate ambitions for its investments in government bonds, mortgages and forestry.

It also plans to assess what it has achieved and look at where it can do more as part of its next climate plan. Its plan will see the pension fund invest ever more sustainably, with targets in line with the Paris climate agreement.

Commenting, PME chairman of the executive board, Eric Uijen, said: "We are ahead of schedule with our investments in equities. We are proud of that but we're not there yet.

"We are looking deeply at what we are already doing and what more is possible. Our participants and employers expect the same from us because the cleaner and more stable the world, the greater the chance of a good pension for people now and generations to come."

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