Major Dutch investors still investing in arms companies

Several large financial institutions in the Netherlands continue to invest in arms manufacturers that supply countries where there is a high probability that the weapons will be used in violation of laws of war or human rights. These include insurers Allianz and Aegon and pension funds ABP, PFZW, and Pensioenfonds Detailhandel, the Fair Money Guide reports based on research.

The institutions jointly invest billions in defense companies that supply countries like Saudi Arabia and the United Arab Emirates. The Fair Money Guide, a partnership of Amnesty International, Milieudefensie, Oxfam Novib, PAX, and World Animal Protection, points out that both countries are involved in the war in Yemen, which has resulted in many civilian casualties.

For the study, the Fair Money Guide looked at investments in fifteen defense companies that supply weapons to “bad regimes.” According to the organization, Allianz and Aegon invested 4.3 billion and 1 billion euros, respectively, in the arms manufacturers. ABP invested a total of 134 million euros in three of the fifteen companies. PFZW invested 62 million euros in four of the companies. And Pensioenfonds Detailhandel invested 99 million euros in eleven of them.

According to the Fair Money Guide, ASR, CZ, DSW, Klaverblad, Menzis, and Univé, among others, prove that things can be done differently. They don’t invest in any of the fifteen companies. The Fair Money Guide also noted that Pensioenfonds Vervoer and insurers Achmea, NN Group, and VGZ said they are in talks with arms manufacturers about deliveries to “high-risk countries.”