ING and ABP invest in controversial Russian Norilsk Nickel

by   CIJ News iDesk VII
2020-06-17   15:59

ING Bank and the pension fund ABP have invested in Norilsk Nickel, a Russian company which produces nickel and palladium. The two institutions provided loans and investment worth more than $1bn. Norilsk Nickel is being held responsible for a major diesel leak in Russia that took place in May. ABP has not ruled out the sale of its investment. According to the Fair Bank and Pension Guide survey, ABP invested $221m in Norilsk Nickel shares, while ING loaned it $486m between 2016 and 2019. ING responded by saying it shared the concerns over the recent 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 company's sustainability policy.