Dialogue and impact on sustainable investment

Through dialogue, we want to influence companies around the world to take ethics and the environment into consideration because our conviction is that well-managed companies are better investments. Sustainability issues are of great importance to people and communities and to the value creation in the companies. This is how we can contribute to development and to sustainable pensions for today’s and tomorrow’s pensioners.

The Council on Ethics is a collaboration between the four AP Funds, which are buffer funds in the general pension system.

Focus areas

Each year, new focus areas are chosen that are given special importance for the Council’s work.


Some issues are particularly debated, such as weapons manufacturing, alcohol, certain industries or territories. The Council on Ethics will then take a position.


The Council will recommend the AP Funds to exclude companies where we do not reach the desired outcome within maximum four years.