ABP is the largest pension fund in the Netherlands, managing funds of around €334 billion. Approximately 10% of this (around €33 billion) is currently invested in the extraction, production and sale of fossil energy, through shares of companies including Shell and BP.[1] By investing in these companies, ABP is actively funding the pollution of the atmosphere and the devastation of the global environment.

Maastricht University prides itself on its forward-looking research and on preparing students for their future. However, by being in partnership with ABP (all UM Staff pensions are held by ABP), Maastricht University is giving tacit approval to the funding, by ABP, of the destruction of the same future for which they are trying to prepare students. They are simultaneously allowing the pensions of UM staff to be used in this way, without their knowledge or approval.

Not only are these investments unethical – they also present a major financial risk. Research has shown that, in order to avoid catastrophic global warming, we need to leave approximately 80% of known fossil fuel reserves in the ground and transition as fast as possible towards renewable energy.[2] Once this happens, the share price of fossil fuel companies is expected to drop rapidly, by as much as 60%.[3] This is already beginning to happen in relation to coal, and the last few years have seen a significant loss of value in such companies which is already impacting shareholders (including ABP).[4] This presents a significant danger to staff and employees whose pensions are held by ABP.

For these reasons, we call on Maastricht University to make a public statement in support of divestment, calling on ABP to completely phase out all investments in fossil fuel energy in a responsible manner and as quickly as possible, including the following steps:

-       To make no new investments in companies related to extraction, production and sale of fossil fuel energy;

-       To fully divest within two years from companies active in the most harmful and risky forms of fossil energy (coal, tar sands & shale gas);

-       To increase transparency with regard to their fossil fuel investments, especially with regard to the financial risks and losses that threaten employees whose pensions are held by ABP.

[1] http://abp.fossielvrij.nl/

[2] https://350.org/why-we-need-to-keep-80-percent-of-fossil-fuels-in-the-ground/

[3] https://www.theguardian.com/environment/2013/apr/19/carbon-bubble-financial-crash-crisis

[4] https://www.investmenteurope.net/investmenteurope/news/3715580/abp-sustainability-pressures