As of December 1, 2022, 3 new companies will be added to AP7’s blacklist. One company is blacklisted due to involvement in nuclear weapons. Two companies are blacklisted because they do not act in line with the Paris Agreement due to large-scale coal operations without credible conversion plans. One company has been removed from the list. A total of 104 companies are blacklisted and excluded from the fund’s investment universe.
AP7’s blacklist is revised twice a year, in June and in December. AP7’s blacklisting is an engagement tool to persuade companies to turn into a more sustainable direction. The blacklisting is thus an engagement tool in collaboration with other engagement tools such as company dialogues and voting at general meetings.
AP7 invests in the companies that in an acceptable way act according to the requirements of the international conventions that Sweden has signed, and which are expressed in the UN Global Compact’s ten principles, which describe companies’ responsibility for human rights, working conditions, the environment and anti-corruption. AP7 also blacklists companies that participate in the development and production of nuclear weapons. Since December 2016, the Paris Agreement to the UN Climate Convention is one of the standards on which the analysis is based. The climate blacklist is being developed continuously in line with the IEA’s roadmap for net zero climate emissions by 2050.
Three new companies have been blacklisted
- Eaton Corporation Plc Involvement in nuclear weapons (Ireland)
- China Coal Energy Co Ltd Extraction of thermal coal (China)
- GD Power Development Co Ltd Production of coal power (China)
The last two companies are blacklisted because they conduct large scale coal operations without credible climate change plans.
One company has been removed from the list
Renault SA is no longer blacklisted due to the fact that there is no verified information about ongoing norm violations from the company.
Read the complete blacklist: AP7 Blacklist December 2022