AP4 does not invest in
When we make a decision regarding an investment, it is based on the requirement set forth in the AP Funds Act, that asset management ought to be conducted in an exemplary way. Investment decisions are also based on the Swedish state’s core values, which means the international conventions and agreements that Sweden has chosen to support. These include, for example, the UN’s Universal Declaration of Human Rights and, with respect to the climate issue, the Paris Agreement.
In cases where there is confirmed information that a company is in any way in violation of a given convention, the AP Funds’ joint Council on Ethics can recommend that the AP Funds not invest in the company.
Since we believe in the strength of dialogue to wield influence, we consider disinvestment as a last resort when a company does not heed our views or is not open to constructive dialogue and improvement of its operations.
In addition to these companies, we have decided not to invest in operations producing nuclear weapons, cluster munitions and mines, tobacco and cannabis, as well as companies where thermal coal and oil sands account for more than 20 percent of the companies' turnover. AP4 may also choose not to invest for company-specific reasons.
On below link we list all companies that the Council on Ethics have recommended the four AP Funds to exclude from their investments. AP4 follow this recommendation.