ABP and Bpf Bouw, two of the largest four pension funds in the Netherlands with over €600bn in assets between them, have sold their shares in Tesla over ESG concerns

Summary

Dutch pension funds ABP and Bpf Bouw sold their Tesla shares, citing concerns over Elon Musk’s $56 billion bonus, which they deemed inconsistent with good governance.

ABP’s sale, worth $650 million at the time, sparked controversy, including criticism from Musk.

ABP defended the decision, emphasizing its long-term investment strategy and new policy to reduce its stock portfolio.

Other Dutch pension funds, while critical of Tesla’s governance, have retained their shares for now.

Tesla has faced broader ESG-related divestments from other Dutch funds over labor practices and governance issues.

  • Optional@lemmy.worldEnglish
    2·
    10 hours ago

    It’s a good time to do it. Suckers have driven the massively overvalued stock back to where it was a year or two (or three?) ago.