ABP, the €405bn ($492bn) Dutch pension scheme, is to divest its entire holdings in tobacco and nuclear weapons, estimated to be worth €3.3bn, within recent years. The move is part of a new assessment framework relating to sustainable and responsible investment for the fund. The framework will provide for divestment if a product is believed to be harmful to humans and if ABP, which is the largest fund in Europe, is unable to alter this as a shareholder. The divestment will relate to manufacturers, producers and associates throughout the supply chain.
ABP, the €405bn ($492bn) Dutch pension scheme, is to divest its entire holdings in tobacco and nuclear weapons, estimated to be worth €3.3bn, within a year. The move is part of a new assessment framework relating to sustainable and responsible investment for the fund. The framework will provide for divestment if a product is believed to be harmful to humans and if ABP, which is the largest fund in Europe, is unable to alter this as a shareholder. The divestment will relate to manufacturers, producers and associates throughout the supply chain.