ABP sells investments in Russian companies
In response to the Russian invasion in Ukraine, pension fund ABP is selling all its remaining investments in Russian companies. ABP had no investments in Russian government bonds.
Image by: Alisa Mahaletska
As of 24 February 2002, ABP had investments worth around 520 million euros in Russia, slightly less than 0.1 percent of the total invested capital. In recent years, investments in Russia had been considerably scaled down, the board says.
The pension fund for the government and education recently sold some of the investments in Russian oil and gas companies. That decision was taken after continued protests by climate activists and employees.
Arms embargo
ABP had no investments in Russian government bonds. Due to the EU arms embargo, they were already on the exclusion list of the pension fund.
According to the board, selling the remaining investments may take some time. This will be done ‘as soon as it is responsible to do so’.
The Dutch pension fund bpfBouw is also stopping all its investments in Russia. Several pension funds in the United States, Norway and Denmark already decided to do this earlier this week.
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