ABP sells its investments in Russian companies
The pension fund announced that, as of February 24, 2022, ABP had investments in Russia worth 520 million euros, which is slightly less than 0.1 percent of its total invested capital. ABP’s investments in Russia had already been scaled down significantly in the last few years, according to its board.
The pension fund for government and education employees in the Netherlands recently sold some of its investments in Russian oil and gas companies. That decision was made in the wake of several protests by climate activists and the academic community.
ABP has no investments in Russian government bonds. In connection with an EU arms embargo, they were already on the pension fund’s exclusion list.
ABP's board says it may take some time to sell the remaining investments, but it guarantees they will be sold “as soon as that can be done responsibly”.
Dutch pension fund bpfBouw is also terminating all its investments in Russia. Several pension funds in the United States, Norway and Denmark announced the same decision last week.