FT: “The Swedish Centre party has called for all of the country’s national pension funds to sell off their holdings in fossil fuel corporations in order to “climate proof” and protect the value of their investments.” “Martin Ådahl, chief economist at the Centre party, which is part of Sweden’s four-party government coalition, told FTfm that the AP funds had been “impotent” and that investments in fossil fuels represented a financial risk to the long-term value of the country’s pension reserves.
The four main AP funds, with SKr971bn ($146bn) of assets under management, have some of their largest foreign equity holdings in oil and gas companies.
The Centre party’s call for divestment follows a report by Lord Nicholas Stern, a professor at the London School of Economics, and Carbon Tracker, a think-tank. It warned of a “carbon bubble” and cautioned that at least two-thirds of listed companies’ oil, coal and gas reserves were “unburnable” if global warming were to be kept below two degrees.”
Future Today
