AP2 has divested from equities and bonds in 60 producers of tobacco and nuclear weapons, following the implementation of regulation.Paulina Pielichata
AP2, Gothenburg, Sweden, divested from equities and bonds in 60 producers of tobacco and nuclear weapons, a spokeswoman said Tuesday.
Following the Jan. 1 implementation of a sustainable money management act in Sweden, which requires Swedish pension funds have to manage assets in a socially responsible manner, the 334.8 billion Swedish kronor ($36.9 billion) excluded tobacco companies and businesses involved in the maintenance and modernization of nuclear weapons systems.
The divestment from tobacco companies is in line with the intention to sharply reduce tobacco consumption and the harmful effects of tobacco smoke, AP2 said in a statement Monday.
AP2 sold interests in companies that are involved both in the maintenance and modernization of nuclear weapons systems to reflect of its intention to support long-term disarmament of nuclear weapons in all countries.