By Susanna Rust2020-12-10T16:02:00+00:00
Sweden’s AP2 has pulled out of fossil fuel companies in connection with portfolio changes leaning on rules for a recently introduced EU climate benchmark, the fund’s latest step towards the goal of aligning its investments with the Paris Agreement.
The state pensions buffer fund today announced it had adjusted its internal indices and portfolios for foreign equities and corporate bonds to ensure the holdings were consistent with the EU Paris-Aligned Benchmark (PAB).
The changes relate to half of AP2’s portfolio – AP2 has total assets of just over SEK360bn (€34.6bn). The fund said the adjustments had been made in such a way that the return and risk characteristics of its indices were not compromised.