ABP lost $ 9 billion investing in fossils
Not only fossil investments are undesirable because they annoy the green energy supplies, it also scores badly financially.
Pension Fund ABP have lost $ 9 billion investing in fossils according to 350.org, a movement against fossil investment.
From a press release of the Dutch branch of 350.0rg.
“(…) Corporate Knights, together with 350.org and the South Pole Group, have launched the Clean Capitalist Decarbonizer, an interactive tool that allows users to calculate the financial impact of investing in divers fossil fuels. They analyzed 14 funds, together owning more than $ 1,000 billion, including the Gates Foundation and ABP.
Conclusion: In the past three years, the total losses have been more than $ 22 billion. The ABP pension fund appears to have lost as much as 9 billion by fossil investment. Recently ABP announced to stop their investments in fossils such as coal, oil and gas. (…)
The analysis included the recently published possessions of 14 large funds in order to predict their potential financial impact as they make their investments by coal, gas, oil and other CO2 intensive companies, comparing to companies that invest at least 20% of their revenues in green markets or new energy.
After that, the total income was to be calculated over a period of three years, starting from October 1, 2012. (…)
“This analysis clearly shows that investments in coal, oil and gas are not only harmful to our climate, but it also has a significant financial risk for the pensions of ABP participants,” said Vatan Hüzeir, one of the initiators of ABPfossielvrij.
We hope that ABP is taking the results of this study seriously, and will be more transparent about their losses from their investments in the fossil industry. They are changing to a fossil-free investment portfolio.
Green profit portfolio
“The analysis of 14 major funds, based on the available data, has demonstrated that $ 22 billion has been lost because of carbon-intensive investments
Although the limited published data reduces the accuracy of the analysis, the conclusion is clear: the decarbonisation of the portfolio offers an always better financial outcome.
This explains why a growing group of investors spent their dollars in less pollution and more green solutions.
- Shell stopped drilling in the Arctic, this is why
- Shell is playing with fire in pool area in Alaska
- Lego ends Shell partnership
- BP pays record environmental fine of 18.7 billion for oil spill in 2010
- Shell will pay for cleaning up polluted Niger Delta
- Shell will get a green light for drilling in Alaska
Have you seen this?
BetterWorldSolutions helps you finding qualified leads and sales partners, world wide
Send us your question: email@example.com