AP7 has concluded a three-year thematic project on universal ownership, examining how large global investors can help address systemic risks such as climate change, biodiversity loss, and antimicrobial resistance—risks that affect everyone and cannot be avoided through divestment. At a high-level roundtable in Stockholm, AP7 convened a researcher and representatives of international asset owners known for active ownership. The discussion focused on the role universal owners play in managing systemic risks.
The discussion brought together Caroline Escott – Head of Investment Stewardship, Railpen. Rogier Snijdewind – Director of Active Ownership, PGGM. Sonja Laud – CIO, L&G and Dr. Emilio Marti – Associate Professor at Rotterdam School of Management. The discussion was moderated by Johan Florén, Communications Director and Senior Sustainability Advisor at AP7.
The panel highlighted:
- The importance of public policy engagement – systemic risks like climate change and biodiversity loss cannot be solved through company dialogues alone.
- Why collaboration is essential – initiatives such as Climate Action 100+ have shown what coordinated investor action can achieve, despite rising geopolitical fragmentation.
- The future of universal ownership – global stewardship collaborations are maturing, and clear action plans and demonstrable impact will become even more critical.
AP7 thematic report
Universal ownership is at the core of how AP7 addresses global sustainability challenges. Together with other asset owners, we can contribute to managing the systemic risks that affect us all. Read more about AP7’s key conclusion from the thematic project in the report.
See the discussions on three specific sub-topics:
What defines universal ownership?
Participants emphasize that influencing public policy is especially critical for universal owners, since changes by individual companies are insufficient to address systemic risks. Company engagement remains highly relevant, but systemic challenges are global in nature and must be managed at a global level.
Why are collaborations crucial for universal owners?
The discussion highlights that broad initiatives such as Climate Action 100+ have been instrumental in aligning investors around system-critical issues. At the same time, collaboration is becoming more difficult due to polarization and geopolitical fragmentation. The panel stresses the importance of focusing partnerships on sector leaders that set the standard for others.
What does the future of universal ownership look like?
Significant experience has been built over time, and the foundations of universal ownership are now firmly in place. Global stewardship collaborations are entering a healthy phase of maturity. Going forward, it will be increasingly important to have clear action plans and to demonstrate tangible contributions to change.
Read more about the Theme work of AP7