Article Image
IPFS News Link • Economy - International

Pension fund divests from Walmart for violating global labor standards

• Muriel Kane via The

The largest pension fund in the Netherlands has divested itself of all shares in Walmart as a result of the company’s anti-union position and poor labor standards.

According to the Huffington Post, Algemeen Burgerlijk Pensioenfonds declared earlier this week that it was blacklisting Walmart for its non-compliance with the United Nations’ Global Compact, which “presents a set of core values relating to human rights, labor standards, the environment and anti-corruption efforts.”

ABP has been trying for years to convince the retail giant to change its policies. The firm first came to ABP’s attention in 2007, when the fund established a “socially responsible investing” policy and was “struck by the staggering number of lawsuits and National Labor Relations Board complaints” against Walmart.

Agorist Hosting