Reported 6 months ago
Europe's largest pension fund, Stichting Pensioenfonds ABP, has sold off approximately €10 billion ($10.8 billion) in liquid assets related to oil, gas, and coal as part of its commitment to becoming more environmentally friendly. The fund has completely divested from liquid assets in fossil energy producers, with some remaining investments in oil and gas still in its portfolio, which it plans to phase out over the next few years. ABP's actions align with the finance industry's response to stricter ESG norms, emphasizing investments in companies transitioning to a sustainable economy while avoiding those that harm the climate or biodiversity.
Source: YAHOO