Stichting Pensioenfonds ABP, Heerlen, Netherlands, announced on Wednesday a new sustainable investment policy.
The €344 billion ($385.6 billion) pension fund said in a news release it plans to cut 25% of CO2-related investments from its overall portfolio by 2020, while investments that “contribute to a better and cleaner future” will be doubled to €58 billion from euro;29 billion by that date.
Corien Wortmann-Kool, chairman, said in the news release, “We are convinced that responsible investment will generate the most value in the long term. Decisions regarding whether an investment is responsible and sustainable will carry a lot more weight and the threshold for inclusion in our portfolio will be raised.”
The news release also said the pension fund will focus on making money available for education-related investments, primarily in the Netherlands, and its engagement policy “will be extended worldwide in the areas of human rights, security and education.”
ABP spokesman Jos van Dijk did not reply to a request for further information by press time.