Ethical Council
The First, Second, Third and Fourth AP funds (AP1, AP2, AP3 and AP4) work through a joint Ethical Council to monitor environmental and ethical compliance in the foreign companies where the funds have holdings.
This collaboration includes
- screening of the funds’ investment portfolios to identify infringements of international conventions
- analysis of incidents
- dialogue with the companies
This collaboration does not extend to Swedish companies, for which the respective AP funds will continue to conduct their own dialogues and analyses.
The Ethical Council is made up of one representative from each of the AP funds. Chairmanship of the Ethical Council, which is held by Första AP-fonden’s representative Nadine Viel Lamare during 2007, will be alternated between the funds.
Decisions to exclude companies from the investment portfolio will also be made by the individual funds.
Coordination provides greater scope to influence the companies
The funds’ collaboration will be based on a systematic screening of their investment portfolios in order to identify and examine possible infringement of international norms and conventions, an analysis for which GES has been given responsibility.
A total of around 3,500 companies will be reviewed, which, based on earlier experience, typically leads to the identification of some twenty candidates for more in-depth assessment.
Coordination of the AP funds’ activities will give international investors a powerful partner in Sweden with an active commitment to the ethical and environmental aspects of corporate social responsibility.
The Ethical Council will provide an account of its activities in a yearly report. Yearly reports and more information about the Ethical Council is to be found on the homepage of the Ethical Council www.ethicalcouncil.com .