Read on
ABP, the largest pension fund in the Netherlands, will stop investing in producers of fossil fuels (oil, gas and coal). This was decided by the Board of Trustees of ABP following recently published climate reports.
Editorial office / Heerlen

In total, the investments amount to over 15 billion euros, almost 3% of the total assets invested by ABP. The investments will be sold step by step. The majority is expected to be sold in the first quarter of 2023. ABP does not expect this decision to have a negative impact on the long-term returns and the level of the pensions to be paid out.

ABP Board Chair Corien Wortmann: “We want to help limit global warming to 1.5 degrees Celsius. Broad groups of participants and employers have indicated how important they believe this is.” She sees insufficient opportunities to exert any influence on fossil companies as a shareholder, which was previously the pension fund’s argument for not getting out of fossil.

More information can be found on the ABP website.

Image: Corona Borealis Studio/Shutterstock