Business

Dutch pension fund dumps Tepco stake

Kyodo

Major Dutch pension fund ABP has sold its ?18 million stake in Tokyo Electric Power Co. after the operator of the stricken Fukushima No. 1 nuclear plant failed to respond to requests to discuss safety concerns.

ABP, one of the world’s biggest pension funds, had an ?18 million stake in Tepco in September but sold it in the October-December quarter for an undisclosed sum, Reuters reported.

On Tuesday, ABP said Tepco has little regard for public safety and did not respond to it repeated requests to discuss safety concerns. ABP thus put Tepco on its list of banned investments, effective Jan. 1.

ABP’s investment criteria also include bans on investing in companies involved in the production of cluster bombs and anti-personnel mines.