A major
Dutch pension fund has scrapped US retailer Walmart and a number of other
international companies from its list of potential investments. ABP, the
pension fund for Dutch public sector workers, says the company does not meet
the standards it applies to business practices.
The pension
fund blacklisted Walmart for its personnel policy, which contravenes
international guidelines. ABP has also distanced itself from Chinese oil
company PetroChina, because its parent company does not do enough to avoid
involvement with human rights violations in Sudan and Myanmar.
Other
blacklisted companies include South Korean company Poongsan Holdings and
Israeli firm Ashot Ashkelon for their “involvement in the production of
controversial weapons”.
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