Pension funds should avoid child labour, arms and tobacco

Solar panelsAlmost nine in 10 Dutch workers say their pension fund should not invest in companies which use child labour, according to research for newspaper Trouw.

In total, 84% opposed investments in the arms industry and 79% in tobacco firms, the survey found.

Investment in coal was also out of favour, with 57% saying they would prefer their fund avoided the fossil fuel. Opinion about nuclear power was more divided, with 51% opposing investment in nuclear power, 36% in favour and 13% undecided.

Investments in oil and gas, by contrast, were only opposed by one in five of those polled.

However, when asked if they would prefer their pension fund to pull out of investments in fossil fuels in order to reduce carbon dioxide emissions, 60% said they supported such a move, the survey showed.

Dutch civil service pension fund ABP has been under pressure from participants to pull out of fossil fuels. However, the fund says alternative energy sources, such as wind, sun and water, will not produce enough power to meet energy needs, ABP says.

Nor would a stop on such investments lead to a reduction in CO2, the fund, which is one of the biggest in the world, says.

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