❗️Netherlands’s largest pension fund dumps entire stake in Caterpillar over Gaza
❗️Netherlands’s largest pension fund dumps entire stake in Caterpillar over Gaza
The Netherlands’s largest pension fund has divested its entire holding in US construction equipment maker Caterpillar, a supplier to the Israeli army, citing the company’s “socially responsible” investment policy, the fund announced today.
The Dutch National Civil Pension Fund (ABP), which manages about $615.44 billion in assets, previously held roughly $454.99 million in Caterpillar shares.
“The way we invest must ensure good returns and at the same time be socially responsible,” ABP stated. “We include companies that meet our criteria in our investment portfolio. And we make every effort to encourage companies that are lagging behind to conduct their business more responsibly … If discussions with companies do not lead to the desired results, ABP will ultimately no longer invest in these companies.”
