Criticism of Dutch pension fund ABP’s investments in coal, oil and gas
The Dutch pension fund, ABP, invested about two billion euros more in the fossil energy industry at the end of 2016 than the year before. This is announced by the report "Dirty & Dangerous: the fossil fuel investments of Dutch pension fund ABP," published today by Both ENDS, German urgewald and Fossielvrij NL. The report criticizes these investments because of the impact on the climate and the catastrophic consequences for the people in the areas where coal, oil and gas are being produced.
Coal
ABP's total investment in coal, the most risky and climate-disrupting polluter, was 4.3 billion euros in December 2016. That is 18% more than a year earlier. "This is in stark contrast to the intention to be a fully sustainable pension fund by 2020, as ABP announced last year," says Both ENDS' Cindy Coltman. "In order to achieve that, ABP should start by selling off all investments in coal, but the opposite has happened."
A large number of coal companies in which ABP invests plan to expand capacity. "Altogether it adds to more than 239,000 megawatts, almost five times as much as Russia now owns, and more than fifty times the coal capacity of the Netherlands," said Heffa Schucking of urgewald. "Of course, in the light of the Climate Agreement of Paris, this is unacceptable."
Oil and gas
Investments in oil and gas companies increased by 23% last year, to 6.9 billion euros in December 2016. Of significant note are ExxonMobil (832 million euros) and Shell (472 million euros).
Liset Meddens of Fossielvrij NL: "It is unacceptable for these companies to continue to explore and dig for new reserves when we know that if we use up all the reserves from the oil and gas fields that are currently operational, the temperature on Earth would already rise more than 2 degrees Celsius."
Human suffering
In addition to the impact of coal, oil and gas on the climate, their exploration and production has too often disastrous consequences for people and the environment in which they live.
In Indonesia, for example, ABP invests in the three companies behind the construction of the Batang Power Plant, the largest coal power plant in Indonesia. Protesting residents are intimidated and threatened by these companies, under the supervision of the local police. However, ABP has expanded its investments in these companies between June and December 2016.
ABP also has an investment of 379 million euros in three of Colombia's largest coal mining companies: BHP Billiton, Glencore and Anglo American. Colombia's coal mining is accompanied by gross violence against the locals, displacement from homes, disappearances and murders.
"The examples from our report show pensioners at ABP the local impact of the projects in which their pension funds are invested," says Coltman of Both ENDS.
Increase ambition level
Heffa Shucking: "Our report can be considered as a shadow report of the Sustainable and Responsible Report 2016, published by ABP itself on Monday, 8 May 2017. ABP has good intentions, but at present it is not clear under what conditions and within which period ABP will withdraw its fossil fuel investments. We want to encourage ABP to sharpen the ambitions of its investment policy. "
"ABP does not seem to realize that just by continuing to invest in the fossil fuel sector, this sector is being further stimulated," says Meddens of Fossielvrij NL. "It's not just about coal, oil and gas extraction, but also for the entire infrastructure around it. Ports, pipelines, power stations, roads, the whole circus must be uprooted for an energy transition that we have internationally agreed we want to get there as soon as possible!"
The authors of the report therefore call on ABP to provide much more openness about their investments in the fossil fuel sector, reduce all investments in coal by the end of 2017 and over the next five years reduce their investments in oil and gas to zero.
---------------------------------------------------------------
Information for the press (not for publication)
For more information, see here:
• The report (in English)
• The Executive Summary in English
• The Executive Summary in Dutch
Contact persons in the Netherlands:
• Cindy Coltman (Both ENDS): c.coltman@bothends.org / 06-25524361
• Liset Meddens (Fossielvrij NL): liset@350.org / 06-41277905
Contact person in Germany:
• Heffa Schucking (urgewald): heffa@urgewald.org / +49 16096761436
Read more about this subject
-
Dossier /Making pension funds more sustainable
Pension funds have a lot of influence because of their enormous assets. Both ENDS therefore wants pension funds such as the Dutch ABP to withdraw their investments from the fossil industry and to invest sustainably instead.
-
News / 6 July 2026Strengthening Women's Land Rights Across the Rio Conventions
From 29 June – 2 July 2026, Tamara Mohr, GAGGA coordinator at Both ENDS participated in the 4th convening of the Women's Land Rights Initiative (WLRI) in Nairobi, Kenya.Hosted by the Robert Bosch Stiftung, TMG Research and the Huairou Commission, the event brought together grassroots organisations, (inter)national NGOs, government institutions and donors from around the world.
-
Publication / 3 July 2026
-
Dossier /Gas in Mozambique
In 2011 one of the world’s largest gas reserves was found in the coastal province of Cabo Delgado, in the north of Mozambique. A total of 35 billion dollars has been invested to extract the gas. Dozens of multinationals and financiers are involved in these rapid developments. It is very difficult for the people living in Cabo Delgado to exert influence on the plans and activities, while they experience the negative consequences. With the arrival of these companies, they are losing their land.
-
Dossier /Finance for agroecology
The lion's share of public budgets for climate, agriculture and development still goes to conventional agroindustrial projects that contribute to the current climate, food and biodiversity crises. Both ENDS and our partners are calling for a transition to agroecological practices that are people- and environment-friendly.
-
Dossier /Trade agreements
International trade agreements often have far-reaching consequences not only for the economy of a country, but also for people and the environment. It is primarily the most vulnerable groups who suffer most from these agreements.
-
Publication / 18 June 2026
-
Publication / 12 May 2026
-
Press release / 12 May 2026UN report warns of a growing sand crisis - The Dutch dredging sector plays a key role in global sand extraction
GENEVA/UTRECHT, 12 May 2026 – A new report by the United Nations Environment Programme (UNEP), Sand and Sustainability: An Essential Resource for Nature and Development, warns that global demand for sand is exceeding ecological limits. Large-scale extraction of sand from marine and coastal ecosystems is leading to biodiversity loss, damage to coastal communities and increasing risks in an era of climate change. Dutch dredging companies play a prominent role in this as global market leaders in large-scale sand extraction and land reclamation. “Our analyses show that the dredging sector operates globally within a system in which ecological damage and the consequences for coastal communities are systematically underestimated, whilst transparency and effective oversight are often lacking,” says the Dutch environmental and human rights organisation Both ENDS, which contributed to the report.
-
News / 14 April 2026New report: Phasing out ISDS in the Netherlands: a roadmap
Today, Both ENDS and SOMO are publishing the report Phasing out ISDS in the Netherlands: a roadmap. In the report, we highlight the Netherlands’ role in the ISDS system and offer practical guidance on phasing out ISDS.
-
Dossier /Rights for People, Rules for Corporations – Stop ISDS!
Indigenous communities in Paraguay saw their attempts to regain their ancestral lands thwarted by German investors. In Indonesia, US-based mining companies succeeded to roll back new laws that were meant to boost the country’s economic development and protect its forests. This is the level of impact that investment treaties can have on social, environmental and economic development and rights. Why? Because of the ‘Investor-to-State Dispute Settlement’ clauses that are included in many such treaties.
-
Publication / 14 April 2026
-
News / 9 April 2026Minister Sjoerdsma hosts roundtable conversations with civil society
This week, Minister Sjoerdsma organized roundtable conversations with civil society organizations – a valuable initiative that brings together Dutch civil society voices to address critical challenges faced by democratic societies.
-
News / 26 March 2026New project: Climate Accountability in EU Trade
Through its new project “Climate Accountability in EU Trade: Testing the SEP and DAGs for Climate-Linked FTA Enforcement” Both ENDS, with support from the European Climate Foundation, is exploring how the European complaints mechanism (SEP) and Domestic Advisory Groups (DAGs) can be more effectively used to advance climate accountability. The project runs for 13 months, until end of 2026.
-
News / 19 March 2026Winners of the ILED ‘Women Are Educators Award’ announced
Our partner organisation ILED (Indigenous-led Education Network) announced the seven winners of the ILED ‘Women Are Educators Award’ this month. These are women who play extraordinary roles in passing on knowledge, whether in formal or informal educational settings.
-
News / 27 February 2026Both ENDS strengthens the resilience of female environmental defenders worldwide thanks to multi-year contribution from the Postcode Lottery
In recent years, Both ENDS has received an additional contribution of €875,000 from the Postcode Lottery for the Autonomy & Resilience Fund (2022–2025), implemented in collaboration with the Global Alliance for Green and Gender Action (GAGGA). This support was essential because female environmental rights defenders around the world are increasingly facing climate change, repression and shrinking civil space. With this contribution, Both ENDS supports female activists and their communities with flexible, trust-based funding, enabling them to develop their own solutions to urgent environmental and climate problems.
-
News / 2 February 2026Response to the D66-VVD-CDA coalition agreement
Coalition: Repair the damage and dare to go further
At Both ENDS, we see a number of cautious steps in the right direction in this coalition agreement. There is a slight emphasis on green issues, renewed attention to women's rights, recognition of the importance of civil society, and discussion of trade agreements with a focus on mutual interests. However, without structural change in how we trade, invest, and cooperate, fine words remain empty shells.
-
Dossier /Seeking justice for the affected communities of Vale’s mining disasters in Mariana and Brumadinho
In 2015 and 2019, the Brazilian state of Minas Gerais experienced two severe mining tragedies in Mariana and Brumadinho, due to the same mining company: Vale. Since then, the affected communities have been seeking justice, via the criminal punishment of the responsible parties, and a fair compensation for the loss of their loved ones, their homes and their livelihoods. Both ENDS supports local CSOs by amplifying their quest for justice within an international audience and, more specifically, by raising awareness amongst Dutch investors in Vale about the high risks this company’s activities pose for people and the environment.
-
News / 2 February 2026Seven years after Brumadinho: impunity allows Vale’s disasters to continue
Seven years ago, the dam owned by mining company Vale collapsed in Brumadinho, Brazil, killing 272 people and severely polluting the surrounding area. While the relatives of the victims commemorate them and fight for justice, the pollution continues.
-
News / 22 January 2026Shell files new arbitration against the Netherlands over Groningen gas field closure
Shell is suing the Netherlands in yet another attempt to evade its responsibility for decades of gas extraction in Groningen. For years, gas production has triggered earthquakes, damaged over a hundred thousand homes, and left residents living in prolonged insecurity, still waiting for repairs, reinforcement, and justice.
