The $80 billion Dutch pension fund defends keeping shares of BP and Shell after 2-year and says talking to companies is often more effective than divestment.
The religious body’s pension plan accuses the oil giant of pulling back from its environmental pledges.
Exxon and its kin were laggard stocks for a long time, but now they enjoy flush revenue and strong share prices. The bet: Their clean fuels may give them better stability.
Previous energy sector reviews have so far led the $272 billion pension fund to divest from 55 companies.
