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
