Stichting Pensioenfonds ABP, Heerlen, Netherlands, has divested its shares investment in Tokyo Electric Power Co., in line with its socially responsible investing policy, according to a news release.
The €293 billion ($398.9 billion) pension fund said TEPCO had “violated” its standards during and after the nuclear disaster in Fukushima, Japan, in 2011.
ABP said repeated efforts by the pension fund have not led to a change in TEPCO's behavior, leading to the decision to divest this month, the news release said.
The announcement comes as €153 billion Dutch fiduciary manager PGGM has also said that it divested from five Israeli banks following “several years” of dialogue “over their involvement in financing Israeli settlements in the occupied Palestinian territories,” according to a news release from PGGM.
A spokesman for PGGM confirmed the divestment. He said these investments had a value of about €10 million, and that the decision was made in the third quarter of last year.
Spokesmen at the banks — Bank Hapoalim, Bank Leumi, First International bank of Israel, Israel Discount Bank and Mizrahi Tefahot Bank — were not available to comment. A spokesman at the Association of Banks in Israel, which represents all five banks, was not available.
Spokesmen for ABP and TEPCO were not available to comment by time of press.