ING and pension fund ABP have invested in Norilsk Nickel by means of loans and investments for more than 1 billion dollars, converted over 880 million euros. This is evident from the Fair Bank and Pension Guide presented on Wednesday. Norilsk Nickel is held responsible for a major diesel leak in Russia in May. ABP does not exclude the sale of its investment.
According to the Fair Bank and Pension Guide study, a collaboration between Amnesty International, Milieudefensie, Oxfam Novib, PAX and World Animal Protection, ABP invested $ 221 million in Norilsk Nickel shares, while ING invested a total of between 2016 and 2019 $ 846 million in loans to the company.
In a response, ING informs NU.nl that it shares the concerns of the various organizations about the diesel leak and confirms that it is in contact with Norilsk Nickel. According to ING, this includes a closer look at business operations and the sustainability policy.
"In the past two weeks, we have been in contact with our customer Norilsk Nickel several times about the cause of the leak and the measures the company is taking. We see that Norilsk Nickel is taking the situation very seriously and is doing everything possible to clean the area. and to prevent this from happening again in the future, "said ING.
ABP does not exclude the sale of an investment
ABP says it wants to use its influence as a long-term investor to encourage the company to repair environmental damage and to take measures to prevent new accidents.
"We have had conversations with the company about climate and human rights for a long time. Our conversations have intensified as a result of this incident. We continue to monitor whether Norilsk meets environmental standards, while also being alert to how the company deals with the physical consequences. of climate change. It follows from our sustainability policy that if the dialogue with a company does not lead to the desired results, we can always consider selling our investment, "said ABP.
One of the greatest environmental disasters in Russian history
Russian mining company Norilsk Nickel was responsible for one of the biggest environmental disasters in Russian history in May. Last month, 21,000 tons of diesel fuel leaked from a power plant, polluting an area of 350 square kilometers. That is an area the size of the municipality of Rotterdam.
Global warming in the area where the mining company operates melts so-called permafrost, causing the ground beneath the diesel storage tank to become unstable and a crutch to sink from the tank.