Six major pensions investors from Europe and the US have got together to draw up a list of ethical principles for investing in farmland. The Dutch megafunds ABP and PGGM, the UK's largest pension scheme BTPS, the national Swedish and Danish pension funds AP2 and ATP, and the US teachers' pensions provider TIAA-CREF have agreed to "promote environmental sustainability, respect labour and human rights, respect existing land-use and resource rights and uphold business standards" in respect of all their farmland investments - and to publicly report their progress in doing the same. Jose Minaya, the head of natural resources and infrastructure Investments at TIAA-CREF, said: "As the world faces the challenge of feeding nine billion people, it is critical that new investments into agriculture are made with sensitivity to their environmental and social impact."