Climate love review

First AP Fund Has Divested from Fossil Fuel Companies

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Ingmar Rentzhog

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Image of Första AP-Fonden (AP1)

Första AP-Fonden (AP1)

Climate love
Sweden has a total of 7 state-managed pension funds (AP1-AP7). The First fund, AP1, with CEO Kristin Magnusson Bernand, is the only one that has completely distanced itself from investing in fossil fuel companies.
The First AP Fund has already in 2020 decided to divest from companies engaged in fossil fuel activities. This decision follows a period of analyzing how climate risks could impact the global environment and the Fund's investments. The Fund believes that the shift towards a less fossil fuel-dependent economy introduces significant uncertainty for companies in the coal, oil, and gas industries, posing higher financial risks. The move to divest from fossil fuels is part of reducing the Fund's climate risk exposure. The Fund also aims to achieve a carbon-neutral portfolio by 2050, setting measurable interim goals.
This is great leadership from Kristin and the AP1 management team and they deserve a lot of Climate Love 💚!
The other AP funds allow investments in oil, coal, and gas to varying degrees. The worst is AP7, which holds the largest share of fossil companies of them all. It is more than strange how the different AP Funds can make such different decisions. The right leadership means a lot
Info about AP 7 policy in Swedish:
https://www.ap1.se/nyheter/forsta-ap-fonden-avinvesterar-bolag-med-fossil-verksamhet/


Info about the other AP funds (in Swedish):
https://www.svt.se/nyheter/ekonomi/ap-fonderna-ager-kol-och-oljebolag-for-16-miljarder


(Article from 2021, please share a newer one in the comment section if you find one)

Climate Warning about AP7 investment in Saudi Aramco Oil (from January 2024):

https://app.wedonthavetime.org/posts/f0990048-08be-45a7-a12c-741e0f7c4e86



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