From IPE: 2024-06-05 11:03:17

AP7, Sweden’s second-largest pension investor, has divested SEK1.2bn in seven companies with large-scale oil or coal operations without climate change plans. Five Chinese firms, one Indian, and one Saudi Arabian company are now on AP7’s blacklist. Overall, 110 companies have been excluded, while Brookfield Corporation and Rolls-Royce Holdings have been welcomed back.

The pension fund’s focus on phasing out coal, based on the importance of curbing climate change, led to these exclusions. AP7 has been expanding its Paris Agreement review since 2020, with stricter criteria for excluding companies with large coal or oil sands operations. This latest move targets oil companies without transition plans, in violation of the Paris Agreement.



Read more at IPE: ​AP7 divests €100m of largely Chinese oil and coal stocks | News