As of June 1, 2023, seven new companies will be added to AP7’s blacklist. All companies are blacklisted because they do not act in line with the Paris Agreement due to large-scale coal operations without credible transition plans. Four companies have been removed from the list. A total of 107 companies are blacklisted and excluded from the fund’s investment universe.
All seven companies are blacklisted because they conduct large scale coal operations. Six of the seven companies are from China; CITIC Ltd, Huaibei Mining Holdings Co Ltd, Inner Mongolia Dian Tou Energy Corp Ltd, Jizhong Energy Resources Co Ltd, Pingdingshan Tianan Coal Mining Co Ltd and Shan Xi Hua Yang Group New Energy Co Ltd. The seventh company is Adani Power Ltd from India.
AP7’s blacklist is revised twice a year, in June and in December. AP7’s blacklisting is 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.
Seven new companies have been blacklisted
Following companies are blacklisted because they conduct large scale coal operations without credible climate transition plans.
- Adani Power Ltd, Production of coal power (India)
- CITIC Limited, Production of coal power (China)
- Huaibei Mining Holdings Co Ltd, Extraction of thermal coal (China)
- Inner Mongolia Dian Tou Energy Corp Ltd, Production of coal power (China)
- Jizhong Energy Resources Co Ltd, Extraction of thermal coal (China)
- Pingdingshan Tianan Coal Mining Co Ltd, Extraction of thermal coal (China)
- Shan Xi Hua Yang Group New Energy Co Ltd, Extraction of thermal coal (China)
Four companies have been removed from the list
The four companies removed from the list, after being excluded for five years or more and without new verified violations, are: Deutsche Telekom, T-Mobile US, Incitec Pivot Ltd och Nutrien Ltd.
Read the complete blacklist: AP7 Blacklist June 2023