Sjunde AP-fonden (AP7)
Climate warning
Climate warning
Ingmar Rentzhog
18 w
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The Swedish state pension fund has invested 500 MSEK in Aramco oil
Do you agree?
214 more agrees trigger a published article
Pinned by Ingmar Rentzhog
Thank you to everyone who has pressed Agree on this Climate ⚠️. We have now been promised an interview with Johan Florén, Chief ESG & Communication Officer at AP7. Watch it here: https://www.youtube.com/watch?v=dXZS6K7p5Cc
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As always some countries are very hard on latin america pushing Amazon protection...but then in their countries...the so what they want to make money
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I find this very pertubing and very hideous.Playing with people's pension by investing in fossil fuels is just the height of malpractice and borders on insanity.
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When we take care of the environment we will not only take care of us but also to the coming generation.
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Who gave them the right to play with my childrens future?
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@lena_bromarker No one , absolutely no one and it is a shame
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Pension fund has a responsibility to act in best interest of its investors beyond short term profit! I wish people trusting this fund with their savings hear about this and put sufficient pressure on fund management to get them to change course away from fossil. Question to fund representative: When will you stop investing in fossil?
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Thank you to everyone who has pressed Agree on this Climate ⚠️. We have now been promised an interview with Johan Florén, Chief ESG & Communication Officer at AP7. Watch it here: https://www.youtube.com/watch?v=dXZS6K7p5Cc
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@WeDontHaveTime Great Work, best of luck with the interview!
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🙏🏻🤝
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Heja Ingmar!
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Stop funding fossil fuels fund clean renewable energy it's safer for all of us
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Completely crazy! A case for dismissal. .
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This behaviour is surreal. Total lack of leadership and responsibility for humanity.
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Extremely risky investment
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The richness of Saudi Arabia is only connected to their oilproduction. A Swedish government pension fund should not invest into Aramco Oil
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17 w
I thought pension funds were all about securing a good future – not destroying it.
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We save money in retirement funds in order to have a decent future. I dont want that decensy in a way that means my kids can´t.
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AP7, please divest from Saudi Aramco to invest in Green Techs and in massive REFORESTING and agro-forestrial projects !
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Sell and change strategy! This is not what we should use Swedish pension funds for!
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It is without my permission and it goes against my values to invest my pension funds in fossil fuels.
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@valerie_de_liedekerke Absolutely crazy
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This is disgusting! What is the real story behind the strategy of a PENSION FUND (exists to secure the future for retirees with minimal risk) to invest in the ONE INDUSTRY which ACTIVELY works to put humanity at maximum risk? Who is holding whom to what?? There are ALWAYS personal short-term interests behind these completely foolish and uneducated decisions. Threats? Bribes? Come on Sjunde AP-fonden, AP7 - show some stamina (and smartness)!
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@ingrid_hesser_779 I agree with your right questions. Yes AP7 should show the smartness from now-on.
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I don't agree to have my pension money invested in a high-risk, high-carbon investment such as the fossil fuel industry!
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It should be regarded as criminal for pensions funds run by Swedish state to invest in fossilfuels
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This is disturbing to see such company engaging in environmental distrusting activities they need to show concern on how they will have new investment and have willingness to have a dialogue and look for better solution our environment is our life .✍️
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So I haven't studied law or anything but I briefly scrolled through the law about AP funds and I cannot believe for a second that this investment decision is compatible with the law. Anyone with a proper education in law who is willing to take this to court? Meanwhile the rest of us could demand whoever is responsible for the decision to be fired, this is state run after all and we shouldn't let them get away with ruining our lives. I think it's seriously messed up that I as a Swedish pension saver need to de-select the standard state option of pension saving in order to have a decent chance for a liveable world during my pension years...
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@angelica_andersson Your observations are interesting, Angelica. Could you elaborate on specific aspects of the law that you find incompatible with this investment decision? Your perspective adds valuable insight to the discussion.
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@princess_nel_268 I Google translated some sections of the law: "The administration must take place exclusively in the interest of the pension savers." ... "The funds in the funds that the Seventh AP Fund manages must be managed in an exemplary manner through responsible investments and responsible ownership. In administration, the Seventh AP Fund must attach particular importance to how sustainable development can be promoted without renouncing the goal in the second paragraph. Law (2022:1547)." My take is that acting in the interest of the pension savers must include to both manage their funds well and to not sabotage the pension savers' chances at a decent quality of life and life expectancy. And there is no question that the fund is required to take sustainability into account when making investment decisions.
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Against all science and also bad economics.
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This is so frustrating
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This is awful! I do hope you get an interview with the CEO.
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I do agree!
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This is ChatGPT remarks about my post: It sounds like you’re deeply frustrated and concerned about the ethical implications and environmental impact of AP7’s investment in Saudi Aramco Oil. Your points raise significant questions about the role of large pension funds in addressing climate change, the effectiveness of shareholder activism in influencing company policies, and the long-term financial risks associated with investing in fossil fuel companies. Regarding the specific issues you’ve raised: 1. Investment in Saudi Aramco Oil: Your concern seems to be rooted in the contradiction between investing in a major oil company and the global shift towards sustainable energy sources. This is a complex issue, as fossil fuel investments have historically been financially lucrative, but are increasingly seen as problematic from an environmental and ethical standpoint. 2. Influence through Minority Stake: The belief in influencing company policy through minority stakeholder positions is a debated strategy. Some argue that it can lead to positive changes, while others see it as ineffective, especially when dealing with large, state-controlled companies. 3. Stranded Assets and Long-term Risks: Your mention of stranded assets reflects a growing concern in the investment world about the future value of fossil fuel resources. As the world transitions to cleaner energy sources, investments in traditional energy companies could lose value, posing financial risks. 4. Ethical and Sustainability Concerns: There’s a clear tension between the ethical implications of such investments and the financial motivations behind them. The role of sustainability and risk assessment teams in these decisions is indeed crucial. 5. Public Perception and Accountability: The issue of whether such investments align with the interests of the fund’s clients – in this case, millions of Swedish pension savers – raises questions about public accountability and the social responsibility of government pension funds. To address these issues thoroughly, it would be important to have a broader understanding of AP7’s investment strategy, the rationale behind such decisions, and how they align with global sustainability goals. An interview with the CEO, as you suggested, could provide valuable insights into their decision-making process and future plans in light of these concerns.
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@Rentzhog Engaging in a dialogue with AP7's CEO could offer valuable insights into the decision making and how the fund plans to address the ethical and environmental challenges.
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Engaging in thoughtful and constructive dialogue about this issue is crucial to ensure that Swedish pension funds contribute meaningfully to a sustainable future.
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Absolutely, George. Constructive dialogue is key in navigating the complexities of sustainable investments.
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This is a very huge investment to something we would call a lost cause. They need to really relook their fossil fuel stand and stop with the ridiculous investment
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We all admire Sweden for its commitment towards climate change. Its sad to see this
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@winnie_nguru The challenge lies in aligning financial decisions with sustainability objectives.
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why can't such funds be invested in alternative clean sources of energy that still will make profit margins
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Dear Ingmar Rentzhog Your climate warning has received over 50 agrees! We have reached out to Sjunde 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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Totally unbelievable that they do such miserable investments with my and other Swedish pension funds …
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@Johannes_Luiga It's time for a thorough reassessment of investment strategies to ensure pension funds align with the collective values and contribute to a sustainable future
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@Johannes_Luiga very malicious
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I just mailed the press contacts at 7AP, Mikael and Johan, and wrote that I seen the interview and that I don’t find this acceptable.
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@thomas_tienso Thank you, Thomas, for taking the initiative to voice your concerns directly to Mikael and Johan at AP7. 💚
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This is very disappointing, why would they invest in fossil fuel instead of clean energy? What language do we use so they can understand better that fossil fuel is destroying our planet? 😣
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@elizbeth_gathigia Let's continue advocating for a shift towards sustainable choices to protect our planet and future generations.
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@elizbeth_gathigia And with people's pension fund ?
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It needs more publicity- I'm sure many Swedes would want to change their policies if they knew
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@lucinda_ramsay You're right; increased awareness can drive change.
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It's disappointing to see the Swedish state pension fund investing in Aramco oil, especially considering the global push to transition away from fossil fuels. It's important for investment funds to align with ESG principles for a sustainable future.
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@walter_lungayi It seems counterproductive amid the global push to transition away from fossil fuels
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This is unfortunate... Sweden was heading in the right direction and the world viewed it as the leader of the change this planet needed now such news creates a setback in the efforts the country had made in the transition to a fossil-free nation
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@edwin_wangombe Let's hope for a reevaluation of investment strategies to realign with the country's commendable efforts toward a sustainable future
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Are they telling us they're backing fossil fuels over renewable energy?
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This is concerning given the environmental impact associated with fossil fuels.
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Such news are heartbreaking! And we believe Sweden is in front side fighting for climate crisis...someone somewhere is misleading and overlooking profit over people and state, am sure majority of Swedish couldn't wish their pension to be invested on fossil fuel companies. A new method or formula should change soonest to safeguard peoples funds.
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@patrick_kiash I totally agree with you Patrick
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@patrick_kiash I back you up Patrick
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