One of world’s largest pension funds has been criticised by environmental campaigners over a rise in its fossil fuel investments, despite repeated promises to cut back on funds that contribute to climate change.

Greenpeace Netherlands, Both Ends, Fossielvrij NL and Urgewald drew attention to figures in Dutch pensions giant ABP’s Sustainable and Responsible Investment 2018 report on September 23, which valued the fund’s investments in coal, oil and gas companies at €16.5bn in 2018, from €14bn in 2015.