Dutch pension fund to divest from fossil fuel producers

By MIKE CORDER
Associated Press

THE HAGUE, Netherlands (AP) — The Netherlands’ biggest pension fund says it will stop investing in companies that produce fossil fuels. The ABP fund said Tuesday that the move was prompted by recent climate reports by the United Nations and International Energy Agency.  Members of the fund have long called on the ABP to divest from the fossil fuel industry. The fund is a wealthy and influential investor that manages the pension savings of more than 3 million Dutch workers in the government and education sectors. It has some 15 billion euros ($17.4 billion) invested in fossil fuel production, almost 3% of its assets. The Dutch branch of Greenpeace called the move “a huge victory for all the people who called on ABP to take climate action!”