About the Ethical Council

The First, Second, Third, and Fourth AP Funds are buffer funds in Sweden’s national pension system. In 2001, the four funds were given a common mission – to invest the buffer capital so as to achieve the greatest possible benefit for the pension system and generate high long-term returns with a low level of risk. In so doing, the Funds must exercise ethical and environmental consideration without compromising the overall objective of attaining a high return.

Together we are stronger

Since 2007, the First, Second, Third, and Fourth AP Funds have been coordinating their work on environmental and ethical issues through the joint Ethical Council. The Ethical Council sees its mission as encouraging companies, on the basis of the business they conduct, to address relevant sustainability issues, to have in place fit-for-purpose guidelines and to apply control and follow-up systems to enable the business to be operated in as responsible way as possible. The Ethical Council does this both by driving forward and participating in preventive initiatives and by acting to bring about positive change in a number of companies associated with violations of international conventions on the environment and human rights. Each fund appoints one ordinary member to the Ethical Council

Key advantages of the Ethical Council:

  • Greater scope for Influence
    The combined assets of the four Funds create greater scope for influence over a company, compared to individual action.
  • Attractive partner
    The Ethical Council is an attractive partner for other international investors with a similar environmental and ethical agenda, which further increases the scope to exert an influence.
  • Time and cost efficiency
    The nature of the Ethical Council’s cooperation enables the Funds to work in a more time- and cost-efficient manner. This greater efficiency finds expression in more company dialogues and more international investor initiatives.