Subscribe to our e-newsletter
Follow us on Twitter
Privacy and cookies
Established 1996
Tuesday 22 January 2019


Spring Conference

ABP to stop investing in tobacco and nuclear weapons

Written by Tineke de Vries

Pension fund ABP has decided to no longer invest in tobacco and nuclear weapons.

The biggest pension fund of the Netherlands aims to have sold these investments, worth around €3.3bn in total, within a year.

ABP has introduced a new assessment framework for investment products. Aside from the existing assessment criteria, four extra criteria have been added. If all four criteria are met, it could lead to exclusions.

The criteria are; if by definition the product is harmful for humans; ABP, with its influence as a stakeholder, cannot change this; it will not have any negative consequences if the product would no longer exist; and, there is a global effort in eliminating it.

Based on this new assessment framework, the pension fund decided that the producers of tobacco and nuclear weapons no longer fit within its sustainable and responsible investment policy.

Commenting, chair of the trustee commission investment policy Erik van Houwelingen said: “Investments in tobacco and nuclear weapons have been a dilemma for us for some time now.

"Societal changes, also internationally, were the reason for ABP to put the topic on the agenda again. Members, employers and other stakeholders indicate an increasing discomfort with investments in tobacco and nuclear weapons.Legal developments also played a role. All these developments, input and perspectives have been taken into account.”

Related Articles

Latest News Headlines
Adam Cadle provides a summary of the big European pensions stories to have hit the headlines this month
Most read stories...
World Markets (15 minute+ time delay)

Money Age Book Now