The Dutch funds ABP phased out a further €600m of fossil fuel investments in the six months to 30 June, it has revealed.
In an update on its fossil fuel investments, the pension fund said it still has €5.5bn in investments. Of these, €4.7bn are illiquid, with some tied up in long-term contracts up to 10 years.
In addition, there is a remaining portion of equity investments of approximately €740m that is invested through a pool with other pension funds.
“We are also phasing that out. But as long as we are in that pool, shares may still be purchased,” ABP stated.
It is expected that by 2024 the approximately €740m in investments in emerging countries will be released from the investment pool and sold.
“We will be selling off the illiquid investments step by step in the coming years,” the fund confirmed.
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