Charity money put into dubious investments
The cancer charity KWF has investments in the four largest tobacco manufacturers while the animal protection agency money is invested in companies in Burma where there is a UN boycott because of human rights abuses, according to a report by Oxfam/Novib.
The claims were made on tv current affairs programme Zembla on Sunday evening. The report looks at the investment policies of the four big Dutch banks – ABN Amro, Fortis, ING and Rabobank.The charities are unaware of where their money is invested.
The report shows that the big four Dutch banks (ABN Amro, Fortis, ING and Rabobank) invest in factories making cluster bombs and land mines, and in companies which ignore human rights, environmental concerns and child labour.
The banks refute the findings. ABN Amro says its investment policy is even tougher than the current laws. ING and Fortis says their policy is in line with current laws but they do offer clients the opportunity to invest in land mine producers at their own discretion. The Rabobank has yet to comment.
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