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APG may vote against BP, Shell on tar sands
APG Asset Management, the wholly-owned fund manager of the €180bn Dutch civil servants pension fund ABP, has warned it may join shareholder protests over the involvement of oil giants BP and Shell in controversial tar sands projects in Alberta, Canada. APG says a group of 140 shareholders that have filed resolutions against the firms have a “solid case” and that it shares many of their concerns. “If the companies fail to provide us with adequate information, we will vote in favour of these resolutions,” APG said.