Civil service pension fund APB has put American supermarket chain Walmart and oil giant PetroChina on its investment blacklist.

ABP, one of the biggest pension funds in the world, said in a statement it is excluding Walmart because ‘its personnel policy conflicts with international guidelines from the ILO, in particular in relation to working conditions and unionisation’.
PetroChina is on the blacklist because of ‘the activities of its parent company CNPC in Sudan and Burma’, the statement said.
All ABP’s investments in the two companies have now been sold, the statement said. The fund stopped investing in weapons companies several years ago. It bases its investment policy on the 10 principles outlined in the United Nations’ Global Compact.
ABP has invested assets of some €240bn and takes care of the pensions of 2.8 million civil servants and teachers.