Publication / 23 september 2019

ABP and fossil fuels - How our pensions are fueling the climate crisis

Pension fund ABP is still investing in coal, oil and gas companies, thus contributing to CO2-emissions and climate change, this report by Both ENDS, Fossielvrij NL, Greenpeace and urgewald shows.

ABP is the biggest pension fund of the Netherlands, with assets of over €430 billion. It is also the 5th largest pension fund in the world. As the national pension fund for government, defense and education employees, ABP has 3 million pension savers and pensioners in total. ABP invests via APG Asset Management in over 4,500 companies worldwide. 93% of its investments are outside the Netherlands.

Over the years, there has been growing recognition that ABP's investments in the fossil fuel industry have serious implications for its climate impact and financial performance. Both employees and employers (including major cities and universities)
have spoken out in petitions and letters to ABP calling on their pension fund to divest—i.e. to break the ties with the fossil fuel industry and phase out current investments in coal, oil, and gas companies.

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