Connect with us

Hi, what are you looking for?

CleanTechnica

Coal

Mayor Of Amsterdam Pressures Dutch Pension Fund APB To Divest From Fossil Fuels

The Mayor of Amsterdam has publicly pressured Dutch pension fund APB to divest from fossil fuel investments, according to Fossil Free Europe.

Fossil Free-3According to the Fossil Free Europe initiative, a project of global climate movement 350.org, Mayor of Amsterdam Eberhard van der Laan penned a letter to the board of Dutch pension fund APB, the world’s fifth-largest pension fund, calling on it to divest from its investments in coal, oil, and gas companies, citing concerns over irreversible climate change. (The letter is available in Dutch, here — PDF.)

“If ABP does not end investments in the fossil fuel industry within a reasonable timeframe, pensions of participants will be at serious risk,” Eberhard van der Laan wrote, in what he called his response to the Amsterdam Fossielvrij (Fossil Free Amsterdam) campaign.

“Cutting our financial ties to the fossil fuel industry will make our city and our pensions fit for the future,” said Sven Jense of Amsterdam Fossielvrij. “But we also need to set an ambitious time frame to drop these investments – and also transition the city’s harbour away from fossil fuels. We don’t want our city to make money out of climate destruction.”

The divestment movement has maintained a steady pace throughout the recent years, with a number of institutions, organizations, and locales divesting from some or all investments in fossil fuels. At the Paris climate summit held in December of last year, 350.org announced that divestment commitments had reached $3.4 trillion.

 
Appreciate CleanTechnica’s originality and cleantech news coverage? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 

Don't want to miss a cleantech story? Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!
 

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Advertisement
 
Written By

I'm a Christian, a nerd, a geek, and I believe that we're pretty quickly directing planet-Earth into hell in a handbasket! I also write for Fantasy Book Review (.co.uk), and can be found writing articles for a variety of other sites. Check me out at about.me for more.

Comments

You May Also Like

Climate Change

Laws to limit divestment in Texas have met with resistance, as bankers and analysts have figured out ways to detour around Big Oil in...

Fossil Fuels

How did students attempt this month to persuade their institutions to divest? How is it different than previous actions?

Climate Change

How has the divestment movement changed the conversation around fossil fuel finance in 2021?

Cars

Ride-hailing firm’s mixed progress to electrify shows why corporate pledges are no substitute for government action.

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.