Dutch pension funds invest in deforestation in the Brazilian Amazon
Dutch pension money is invested heavily in companies that contribute to deforestation in the Amazon region and the Cerrado savanna in Brazil, such as soy, animal feed and beef companies. This is concluded in a report published today by Profundo, commisioned by the Fair Finance Guide, Hivos and Both ENDS. All ten pension funds that were examined invest in these types of companies, with the ABP pension fund and Pensioenfonds Zorg en Welzijn on top with investments worth EUR 580 million and EUR 383 million respectively.
Cindy Coltman of Both ENDS: "It is alarming that the ten pension funds investigated in this research have come out very low regarding their investments in the 59 important deforestation-risk companies active in the international soy and beef supply chains in Brazil, China and Europe. It is unacceptable that pension funds do not have an active approach to prevent that the companies they invest in are directly or indirectly through their supply chains involved in deforestation. Their policies do not cover the most important standards and they are not taking sufficient actions to prevent deforestation, human rights abuse and pollution. Dutch pension funds can and must do better."
The report 'Funding destruction of the Amazon and the Cerrado-savannah'
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