Pension giant invests billions in coal and oil

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Pension giant invests billions in coal and oil
Photo: Eraldo Peres/AP/TT

The state pension fund, the Seventh AP Fund, has invested multi-billion dollars in 42 of the world's largest coal and oil companies.

This is according to a review conducted by SR Ekot . In total, the shares are worth just over SEK 17 billion.

In 2025, the fund has also increased its holdings in companies that have been blacklisted by several banks. According to SR, these include Brazilian Petrobras, which has a permit to drill at the mouth of the Amazon River, and Norwegian oil giant Equinor.

The Seventh AP Fund is often described as the couch potato fund, because it is where the six million Swedes who have not made an active premium pension choice end up. In 2024, the fund managed a total of SEK 1,440 billion.

The pension fund's acting communications manager Mikael Lindh Hök tells SR that the fund has a greater opportunity to influence companies through its investments.

Either you can clear out your portfolio so you don't own any companies. Or you can believe that if I own I can still influence the company. You have closer access to management, you can vote at general meetings and those parts.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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