September 25, 2020 Read More →

Dutch asset manager Robeco to divest thermal coal, oil sands holdings by year’s end


Dutch asset manager Robeco is excluding investments in thermal coal, oil sands and Arctic drilling from all its mutual funds, it said on Thursday, joining other investors in cutting their exposure to fossil fuels.

Companies that derive 25% or more of their revenues from thermal coal or oil sands, or 10% or more from Arctic drilling, will be barred from its investment portfolios, Robeco said in a statement.

The 155 billion euro ($181 billion) asset manager previously excluded thermal coal investment from its sustainable funds only. It is also adding oil sands and Arctic drilling firms to its exclusion list, it said in a statement.

“Our move to exclude investments in fossil fuels from our funds is a further step in our efforts to lower the carbon footprint of our investments, transitioning to a lower carbon economy,” said Victor Verberk, Robeco’s CIO fixed income and sustainability.

A number of European insurers and asset managers have cut investments in fossil fuels, including Dutch insurer Aegon.

Robeco said it would complete the exclusion of fossil fuel firms by the end of this year.

[Carolyn Cohn]

More: Dutch asset manager Robeco cuts fossil fuels from all its funds

Comments are closed.