As of 24 February 2022 ABP had investments in Russia worth 520 million euros, slightly less than 0.1 percent of its total invested capital. ABP’s investments in Russia had already been scaled down significantly in the last few years, according to the Board.

The pension fund for government and education employees in the Netherlands recently sold some of its investments in Russian oil and gas companies. That decision was taken in the wake of continuing protests by climate activists and the academic community.

Arms embargo

ABP has no investments in Russian government bonds. In connection with an EU arms embargo they were already on the pension fund’s exclusion list.

The Board says that it may take some time to sell the remaining investments. They will be sold “as soon as that can be done responsibly”.

Dutch pension fund bpfBouw is also terminating all its investments in Russia. Several pension funds in the United States, Norway and Denmark came to that same decision earlier this week.