Dutch pension fund commits €500m to green mortgages

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The €409bn Dutch pension fund ABP has committed €500m to “green mortgages”, which come with a discount for energy-efficient residential property.

The discount would not only apply to purchased assets with the highest energy efficiency, but also to the mortgaged property after it has been converted to meet the requirements of energy label ‘A’ during the duration of the mortgage.

The pension fund added that its investment would be managed by Vista Hypotheken, a mortgage subsidiary of Rabobank focusing on consumers seeking clear and simple conditions combined with a long fixed interest period.

Its combined worldwide holdings of residential mortgages total €9bn, €4bn which has been invested in the Netherlands.

The civil service scheme said its latest commitment was part of its goal to increase the sustainability of its mortgages, and also contributed to its target of investing €58bn in total in sustainable development by 2020.

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