Health service pension fund PGGM is to make sure all the companies it invests in operate responsible policies on the environment, social conditions and corporate strategy. The fund, which represents some two million people, is to publish a list of all its investments this summer.

Companies which, for example, invest in weapons or infringe human rights will be scrapped from its list if they do not change their ways, PGGM said. The fund has invested assets of €80bn in some 4,000 companies.