Certainly one of our readers has handed alongside some attention-grabbing information that we missed previously week. I’ll let him summarize it since he did that properly in an e mail to CleanTechnica.
“The biggest fund in Sweden, AP7, has bought all it’s shares in Tesla and blacklisted the corporate due to their violation of labour rights within the US, and thus not fulfilling AP7’s ESG necessities,” Björn Ylinenpää writes. “AP7 is the state various to non-public funds within the Swedish pension system. It has 5.9 million savers and has had an above common return.”
The information comes from a press launch from AP7 that lists 5 firms it’s blacklisting and why. Right here’s what AP7 wrote:
- Chord Power Company (USA)
Appearing towards the targets of the Paris settlement by means of large-scale oil operations with out transition plans. - Coterra Power Inc (USA)
Appearing towards the targets of the Paris settlement by means of large-scale oil operations with out transition plans. - JSW Power Restricted (Indien)
Appearing towards the targets of the Paris settlement by means of large-scale coal operations with out transition plans. - PRIO SA (Brasilien)
Appearing towards the targets of the Paris settlement by means of large-scale oil operations with out transition plans. - Tesla Inc (USA)
Involvement within the violation of labor rights within the USA.
In complete, AP7 has blacklisted 114 firms. Although, on this announcement, it additionally shared that one firm has been faraway from the blacklist. “Evergy, Inc. has been re-evaluated after taking adequate transition measures and subsequently not meets the standards for blacklisting.”
AP7 elaborated a bit of bit on the Tesla blacklisting, mainly saying what Björn wrote above. “AP7 has determined to blacklist Tesla attributable to verified violations of labor rights in the US. Regardless of a number of years of dialogue with Tesla, together with shareholder proposals in collaboration with different buyers, the corporate has not taken adequate measures to handle the problems.”
Notably, as you’ll be able to see there, the priority is about labor rights within the USA. It doesn’t surprisingly, spotlight the labor union battle in Sweden. Nevertheless, Björn provides, “For those who surprise if it pertains to the continuing labour battle in Sweden, right here you may have an article the place the union-owned Dagens Arbete ask AP7 simply that, in Swedish although: https://da.se/2025/06/sjunde-
How has IF Metall’s battle with Tesla in Sweden contributed to your resolution?
– By no means. But it surely has strengthened the picture that there are main issues with union rights throughout the firm.
Attention-grabbing….
Will we see extra such TSLA gross sales and blacklisting from different main funds now that AP7 has carried out this? Who is aware of? These US labor issues have been round for a number of years. Nevertheless, latest political actions from Elon Musk have clearly ticked individuals off, and I ponder how a lot of that is AP7 management discovering a selected, extra strong or sound clarification for why
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