The largest Dutch pension fund, the civil servants fund ABP, has decided to end its investments in producers of nuclear weapons. ABP has “finally made the right decision”, says PAX campaigner Krista van Velzen. “After years of campaigning by PAX against the unacceptable investments by the ABP in nuclear weapon producers, the pension fund has now realized these are not acceptable investments. It’s good to see the ABP will now end these investments.”
The ABP was under increasing pressure since last summer, when the international treaty banning nuclear weapons was adopted in the United Nations. The pension fund recognizes that this global ban on nuclear weapons was decisive in its decision. “This is great news for all teachers, public servants, police officers and politicians, whose pension money will no longer be invested in weapons of mass destruction”, said Van Velzen.
“Amazing news”
PAX publishes a yearly report investigating investments in producers in nuclear weapons, Don’t Bank on the Bomb. The most recent update of the report, published in 2016, showed the ABP invested around USD 1 billion in producers of nuclear weapons. PAX will publish new research this year. Van Velzen: “The ABP will still be shown to have investments in the upcoming report because it will take a year to divest completely, but after this decision they are the example all other financial institutions that haven’t divested yet should follow.”
For years, PAX has been campaigning against the investments of ABP in nuclear weapon producers. PAX joined ABP pensioner meetings to make clear that their is no support for their investment of about 1 billion dollars in nuclear weapon producers. PAX was also present at the dialogue between the ABP-board and civil society on its new sustainability policy.
For more information on the PAX Don’t Bank on the Bomb report and investments in nuclear weapon producers go to www.dontbankonthebomb.com.