Swedish AP funds have invested billions in companies accused by the UN of violating international law and human rights in Gaza. Notable companies include Rolls Royce and Palantir, both linked to military operations in Israel. Despite guidelines against such investments, AP funds continue to hold significant shares, citing difficulties in verifying information from conflict zones.
Swedish Pension Funds Invest Billions in Companies Accused of Violations in Gaza
Swedish Pension Funds Invest Billions in Companies Accused of Violations in Gaza
Swedish AP funds have invested billions in companies accused by the UN of violating international law and human rights in Gaza, reports SVT News.
One of the companies highlighted by the UN is Rolls Royce, which manufactures engines for Israeli tanks. Four of the AP funds own shares in the company.
Another company identified is the American firm Palantir. The IT company develops software for AI and military operations and has a close collaboration with Israel.
Several AP funds have invested in the company, with the Seventh AP Fund holding the most shares, valued at 4.8 billion SEK in mid-August, compared to 389 million SEK in October 2023.
According to their guidelines, AP funds should not own shares in companies involved in human rights violations. However, AP7's sustainability manager, Charlotta Dawidowski Sydstrand, states that it is challenging to verify the accuracy of such claims.
"We need more evidence to act. It's problematic to obtain verifiable information from war zones, as there are many rumors and allegations," she told SVT.
The Norwegian pension company Storebrand/SPP sold its holdings in Palantir last autumn.