Dutch civil service pension fund ABP has pulled out of controversial US tech company Palantir, the Financieele Dagblad has reported.
The decision follows considerable criticism of the fund’s investment in the company when it was revealed by investigative website Follow The Money in January.
Palantir is not mentioned in the fund’s most recent investment list, and a spokesman confirmed the stake had been sold, the paper said.
ABP wants to invest in a “financially and socially responsible” way, the spokesman said. “ABP weighs up returns, risk, costs, and how sustainable and responsible an investment is when making investment decisions.”
In January Follow the Money reported that ABP had an investment worth €825 million in Palantir, which produces surveillance technology used by the US immigration police ICE as well as the Israeli army.
It is unclear from the report whether ABP made a loss on its Palantir shares, which have grown considerably in value over the past few years.
Last year, ABP also pulled out of Caterpillar, because of its continued sale of bulldozers to Israel, where they are used to demolish Palestinian homes and other property
Thank you for donating to DutchNews.nl.
We could not provide the Dutch News service, and keep it free of charge, without the generous support of our readers. Your donations allow us to report on issues you tell us matter, and provide you with a summary of the most important Dutch news each day.
Make a donation
