The Council on Ethics’ recommendation, 2 October 2018
Canada legalised cannabis on 17 October 2018. Cannabis was already permitted for medical use in Canada. The new law means that the production, sale and consumption of cannabis for private use is now permitted. A number of companies in which the AP Funds have invested, or can invest, sell cannabis to private individuals from 17 October 2018.
The Council on Ethics has arrived at a position regarding investments in companies that produce narcotic drugs. Internationally, a number of UN conventions have rules on narcotic drugs and Swedish parliament has ratified these. The conventions limit the use of narcotics to exclusively medical or scientific purposes. According to UN conventions on narcotics, no one may freely buy or sell drugs classed as narcotics or use them for recreational and/or religious purposes. UN conventions on narcotics currently class cannabis as one of the narcotic drugs that requires the strictest controls. The Council on Ethics deems that global and Swedish regulations on medical products containing cannabis or cannabis extract are grounds for excluding companies that produce cannabis for recreational and/or religious purposes. Both global and Swedish regulations on this issue are based on UN conventions ratified by Sweden. The Council on Ethics recommends excluding drugs classed as narcotics for non-medical use.
Canntrust Holdings currently sells cannabis for private use. The company confirmed this after being asked by the Council, and therefore comes under the Council’s recommendation to exclude drugs classed as narcotics for recreational and/or religious purposes. The Council has therefore recommended that the AP Funds exclude Canntrust Holdings.
Read more about the Council on Ethic’s postition on narcotic drugs.