Swedish Pension Funds Linked to Israeli Company Producing White Phosphorus

Swedish pension money is being invested in an Israeli company that manufactures white phosphorus for warfare, according to an investigation by Ekot on Sveriges Radio.

» Published: August 22 2025 at 06:41

Swedish Pension Funds Linked to Israeli Company Producing White Phosphorus
Photo: Abdel Kareem Hana/AP/TT

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The investigation shows that the Seventh AP Fund has invested in the Israeli chemical company ICL Group, a criticized company that manufactures white phosphorus, a substance that causes severe burns and which, according to human rights organizations Amnesty International and Human Rights Watch, has been used by Israel in densely populated areas in Gaza and Lebanon.

It is prohibited to use white phosphorus as incendiary weapons near civilians, but is allowed as smoke screens or to illuminate military targets.

Close to six million Swedes who have not made an active choice have their premium pension in the Seventh AP Fund, which today owns shares worth 100 million kronor in ICL Group. Ekot's investigation shows that the holding has increased sharply in recent years, from 1.2 to 1.6 million shares.

The Seventh AP Fund's Mikael Lindh Hök says to Ekot that they will take a closer look at the company during the autumn.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers
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