The Dutch civil service pension fund ABPĀ has divestedĀ from Alphabet and Meta, citing concerns over governance integrity and broader investment criteria. The move follows ABPās earlier decision to remove Tesla from its investment portfolio.
ABP, one of the worldās largest pension funds, regularly updates its list of investments.Ā According to an analysisĀ byĀ Het Financieele Dagblad, Alphabet and Meta were no longer listed as of the third quarter of last year. In total, ABP has cut ties with approximately 900 companies, reducing its portfolio from 2,000 to around 1,100 firms.
Board chairman Harmen van Wijnen stated that ABP has shifted its investment strategy to focus on four core themes: climate, biodiversity, human rights, and good governance.
āWe value returns, but we also assess companies based on these four themes. After applying these criteria, 900 companies were excluded, including Alphabet, Meta, and Tesla. The remaining companies are those that adequately manage risks and remain good investments,ā Van WijnenĀ toldĀ Het Financieele Dagblad.