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.

  • @bassomitronEnglish
    32•4 hours ago

    Not because the stock is grossly overvalued to begin with? Or even because its CEO is fully diving into being a Nazi?

    • @SirQuackTheDuckEnglish
      2•37 minutes ago

      ABP is the pension fund for, among others, the Dutch government. I don’t think they’ll openly call Elon Hitler all that quick, just to keep up good relations.

    • @[email protected]English
      12•3 hours ago

      I’d imagine that’s just PR talk because they don’t want to tank the price while they’re still holding the bag.

  • OptionalEnglish
    1•2 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.