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Netherlands: Walmart blacklisted by major pension fund

Date: 9 Jan 2012

Photo outside a WalMex store

The country's biggest pension fund, Algemeen Burgerlijk Pensioenfonds, has stated that it is to blacklist Walmart for a range of factors concerning its social and environmental practices.

In particular, it quoted the company's alleged noncompliance with the UN Global Compact. The fund, which had invested approaching 100 million euros in Walmart last year, blacklists a small number of other firms - mostly for involvement in chemical or nuclear weapons.

The fund says it had met repeatedly with Walmart executives over recent years to persuade it to improve labour and environmental practices. Although it had seens some progress, it decided that this had been too slow.

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