Dutch pension fund blacklists Walmart

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A major Dutch pension fund has scrapped US retailer Walmart and a number of other international companies from its list of potential investments. ABP, the pension fund for Dutch public sector workers, says the company does not meet the standards it applies to business practices.

The pension fund blacklisted Walmart for its personnel policy, which contravenes international guidelines. ABP has also distanced itself from Chinese oil company PetroChina, because its parent company does not do enough to avoid involvement with human rights violations in Sudan and Myanmar.

Other blacklisted companies include South Korean company Poongsan Holdings and Israeli firm Ashot Ashkelon for their “involvement in the production of controversial weapons”.

© Radio Netherlands Worldwide

© Radio Netherlands Worldwide

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