AMSTERDAM (MarketWatch) -- Netherland's biggest pension fund Algemeen Burgerlijk Pensioenfonds, or ABP, said Tuesday it divested its stakes in Wal-Mart Stores Inc. WMT, +0.47% and PetroChina Co. (0857.HK) and blacklisted both companies in its portfolio, citing non-compliance with United Nations' Global Compact principles.

The UN Global Compact principles relate to areas of human rights, labor, environment and anti-corruption.