2020’s divestment wins in Sweden

By admin December 29, 2020

In a year with few wins, 2020 saw some positive developments for Swedish pension funds’ investments in fossil fuel companies. First, in the spring of 2020, the AP1 Fund announced their plans to divest fully from fossil fuels. Then in December, the AP2 fund announced that they have aligned their internal portfolios (which accounts to half of their total portfolio) with the Paris Aligned Benchmark (PAB), and have the ambition to align their total portfolio. This would mean a “withdrawal of investment from companies that generate revenues from selling fossil fuels” according to their homepage (Andra AP-fonden, 2020). 

According to the PAB, AP2 will no longer invest in companies that “generate more than 1 per cent of their turnover from coal, more than 10 per cent of their turnover from oil, and more than 50 per cent of their turnover from gas”. While this does not mean complete divestment, it will lead to divestment from 250 companies. 

The Fossil Free Sverige campaign has been active in campaigning for their pensions to divest from fossil fuel, staging art interventions and online actions