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Economics

Luxembourg pension reserve fund halts €12 million investments

Luxembourg's pension reserve is the latest local institution to divest funds from companies involved in the US pipeline affair, after Dutch financial services ING and BNP Paribas sold their stakes in March and April.

04.08.2017

The Luxembourg pension reserve fund has divested from three companies tied to the Dakota Access pipeline, bringing a small victory for the "No Dakota Access Pipeline" initiative in Luxembourg.

Local activities along with some 120 members of the public have been lobbying for a halt in such investments made by the Fonds de Compensations (FDC) and the BNP Paribas banking group, of which Luxembourg government is a shareholder, since March.

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