AMSTERDAM: ABP, the largest Dutch pension fund with 509 billion euros in assets, said on Friday “directly exiting” fossil fuel investments is not the solution to environmental concerns.
After a gathering in Amsterdam of fund participants who are concerned its investment policies are not environmentally minded enough, chairwoman Corien Wortmann-Kool promised to be “more ambitious” but stopped short of specific promises.
“We share the concerns of the participants of the gathering, but directly exiting fossil is not the solution,” she said.
ABP is gradually increasing its investments in renewable energy and reducing its coal industry investments. It said on Friday it has cut the overall carbon dioxide “footprint” of its investment portfolio by 40% since 2014. (Reporting by Toby Sterling, Editing by William Maclean)
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