Europe’s largest pension fund, ABP, has said it will dump tobacco and nuclear arms holdings from its portfolio in 2018, the Financial Times reported.

The pension fund, which manages around EUR 405 billion (USD 496 billion) for 2.9 million members, said EUR 3.3 billion in tobacco and nuclear arms holdings will be divested in the next year.
ABP executive committee chairman, Erik van Houwelingen, said societal changes at an international level led to the fund deciding that tobacco, along with nuclear arms, no longer aligns with ABP’s sustainable and responsible investment policy, the newspaper reported