PME sells all investments in Russia
The PME pension board condemns the Russian invasion of Ukraine and feels for all those affected. Eric Uijen, chairman of the PME executive board: "We are saddened and concerned at the violence we are witnessing and the devastating impact this has on human lives and the threat to international security. We have, therefore, decided to sell all our Russian investments."
PME committed to investments in the energy transition
PME had long stopped investing in Russian government bonds and shares in Russian state-owned companies due to the low score on the Democracy Index. In addition, PME had already starting phasing out all investments in fossil oil and gas, including those in Russia, over the past year. This was prompted by PME's decision to focus more on investments in the energy transition.
Selling investments as soon as possible
PME still has a limited number of Russian equity positions, representing a joint value of approximately €16.5 million as at 1 March. This is less than 0.03% of our invested capital.
The remaining investments will be sold as soon as this is possible. We are also carefully implementing the sanctions regulations and monitoring their consequences for pension and asset management.