NN Group has taken an important next step in its responsible investment policy. Together with its asset manager NN Investment Partners (NN IP), NN Group has made the decision to exclude tobacco from all its investments. Currently tobacco is already excluded in the dedicated Socially Responsible Investing (SRI) funds and mandates, including sustainable and impact products, which NN IP manages on behalf of its clients.
The decision to extend the exclusion to all proprietary and client funds and mandates has been taken as part of NN Group’s responsible investment policy. Jelle van der Giessen, Chief Investment Officer NN Group: “We have come to the decision that tobacco no longer fits with our responsible investment approach. The decision takes into account concerns regarding public health, because it is not possible to use tobacco products responsibly, as well as the economic burden on society via the externalised economic and societal costs of tobacco and how this may affect investors.”