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:
Info about the other AP funds (in Swedish):
(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):
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12 w
Proud to hear what AP1 is doing!
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15 w
🙏🏻 Great initiative
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Awsome
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Good to know!
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Awesome!
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15 w
This is a great inspiration to their conglomerates that it is possible to divest and reduce their dependence on fossil fuels
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This is a remarkable decision.
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First one!! 👏
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15 w
AP1's leadership in divesting from fossil fuels offers a beacon of hope in the fight against climate change.
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15 w
Let's say no to fossil fuel
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15 w
The ideal state of being is always just doing what we believe. AP1 is exactly doing it and the success of AP1,therefore, shall encourage others. It shall be great to have an analysis of decision making process of AP1 and AP7 vis-a-vis their current achievements. Staying away from fossil fuel is still a hard task for most of the companies. Getting out of comfort zone is neither easy nor is comfortable. Gratitude for sharing this encouraging and critical piece of information.
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15 w
I hope this decision will inspire other investors to follow suit and shift their portfolios towards more sustainable investments .
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@gorffly_mokua By all means it will
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15 w
Way to go! Kudos to Kristin Magnusson.
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Dear Ingmar Rentzhog Your climate love has received over 50 agrees! We have reached out to Första AP-Fonden by email and requested a response. I will keep you updated on any progress! To reach more people and increase the chance of a response, click the Share button above to share the review on your social accounts. For every new member that joins We Don't Have Time from your network, we will plant a tree and attribute it to you! /Adam, We Don't Have Time
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15 w
The earth needs such great leadership emulated by Kristin.
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We need a greener world! No to fossil fuel.
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16 w
This is the best way to shift the narrative. If AP1 succeeds then it has the potential to reinvigorate ways to help the planet and still make money for the investors or the common people. After all, that's it right! If it impacts on our hip pocket we tend to selfishly defend our current position. If we can help and not have to financially sacrifice too much, we have a chance!;
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16 w
Time for AP7 tio stop being greedy and stupid.
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16 w
good step for the future of clean energy
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With the climate breakdown accelerating at and exponential rate. It beggars belief that people will still invest in an industry that created the problem and still drives it. The perfect representation was shown by Al Gore when he held up the scales with gold on one side and our home Mother Earth on the other. Unfortunately it is now tipping towards the Gold. The paradox is that with no Earth there is no gold.Sad Times.
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@uwe_gramann Agree 100%....unfortunately, money can be made in that industry without having to do too much so people put their fingers in their ears and pretend not to hear the earth crying out for help.
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16 w
Great milestone indeed this is more encouraging news
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A great step towards sustainability
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Well done. Small positive steps. Cx
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This is impressive..! Kudos to CEO Kristin Magnusson Bernand and the team for leading the way in prioritizing a greener future.
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This is a positive step towards sustainable investing and addressing climate change.