Dutch pension funds invest in Chinese pharmaceuticals using endangered species
At least 12 Dutch pension funds are reportedly investing in Chinese pharmaceutical companies that manufacture traditional medicines containing ingredients from endangered species, including leopards and pangolins. The companies involved are Beijing Tong Ren Tang Group and Jilin Aodong Pharmaceutical Group, which produce remedies marketed for improving blood circulation, though there is no scientific evidence supporting these claims.
According to an investigation by Argos, among the pension funds involved are Pensioenfonds Zorg en Welzijn, ABN AMRO Pensioenfonds, and StiPP, the pension fund for the temporary employment sector. The actual number of funds with similar investments may be higher, as 49 out of 139 pension funds did not respond to inquiries, including Shell, ING, and Nationale Nederlanden.
Leopards and pangolins are critically endangered and protected under the strictest category of the CITES treaty, an international agreement regulating trade in threatened species. Commercial trade in these animals is generally prohibited. Despite China being a CITES signatory and enforcing additional national protections, it remains unclear how these pharmaceutical companies legally obtain leopard and pangolin derivatives for their products. Experts suggest that the animals may be sourced illegally.
Pension funds promoting environmental and social responsibility have faced scrutiny for these investments. Pensioenfonds Zorg en Welzijn states that it bases its sustainability decisions on external data providers. "These data do not currently indicate that Jilin Aodong Pharmaceutical Group fails to meet our minimum sustainability standards," a spokesperson said. It remains unclear how this position aligns with international wildlife protection laws.
ABN AMRO Pensioenfonds offered a similar response, asserting that it avoids investing in companies involved in human rights abuses, labor violations, corruption, or environmental harm. "We rely on a third-party screening provider for this assessment, and Beijing Tong Ren Tang Group has not been flagged as a company to exclude," the fund stated.
Additional pension funds found to be investing in the Chinese pharmaceutical firms include Pensioenfonds voor de Nederlandse Groothandel, Pensioenfonds Openbare Bibliotheken, Pensioenfonds Recreatie, Bedrijfstakpensioenfonds voor de Handel in Bouwmaterialen, Pensioenfonds HaskoningDHV, Pensioenfonds Rockwool, Bedrijfspensioenfonds voor de Rijn- en Binnenvaart, Pensioenfonds van de Nederlandse Bisdommen, and Pensioenfonds voor Roeiers in het Rotterdamse havengebied.
