The Netherlands: Largest Dutch pension fund to divest from nuclear weapons
from Don't Bank on the Bomb
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 program leader nuclear disarmament Susi Snyder. “After years of campaigning by PAX against the ABP’s unacceptable investments in nuclear weapon producers, the pension fund has now realized these are not acceptable investments.” This is great news for all teachers, public servants, police officers and politicians in the Netherlands, whose pension money will no longer be invested in weapons of mass destruction”, said Snyder.
The ABP was under increasing pressure since last summer, when the international treaty banning nuclear weapons was adopted in the United Nations. This global ban on nuclear weapons was decisive in ABP’s decision. The decision by the ABP shows that the nuclear ban treaty is already having very real effect, including in NATO-countries like the Netherlands.“ The decision by the ABP shows that the nuclear ban treaty is already having very real effect, including in NATO-countries like the Netherlands.
PAX together with ICAN leads the global campaign to end all investments in producers of nuclear weapons Don’t Bank on the Bomb and yearly publishes research into which financial institutions invest in nuclear weapon producers. 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. Snyder: “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 was 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.