Europe’s biggest pension fund sets 2050 ‘climate neutral’ goal
ABP, Europe’s biggest pension fund, will phase out investments in coal miners and companies that extract oil from tar sands as part of a plan to make its €466bn investment portfolio “climate neutral” by 2050.
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Launching a new sustainability policy on 3 February, the pension fund said that, over the next five years, it plans to slash the CO2 emissions from its €150bn equity portfolio by 40%, compared with 2015 levels, and put €15bn into “sustainable and affordable” energy investments, “for example through green bonds”.
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