Dutch pension funds ABP and PFZW have been accused of having $2bn invested in companies with alleged links to Myanmar’s military by campaign group Justice For Myanmar.
The pair, who run their money through dedicated asset managers APG and PGGM, respectively, reportedly hold 20 firms that have direct or indirect links to the country’s military and state entities. Last month, Myanmar was subject to a violent coup led by its military, which has resulted in democratic institutions and processes being shut down, media outlets closed, elected political leaders being arrested and more than 500 civilians being killed.
ABP is the €458bn Dutch pension fund for government and education employees, whilst PFZW is the scheme for Dutch healthcare workers run by PGGM.
The companies identified have been split into two categories: nine that allegedly have a “direct and long-term relationship with the Myanmar military or military-controlled businesses”, pre…