Sweden's Largest Fund Dumps Tesla (TSLA) Shares & Blacklists Company - CleanTechnica

Sweden's largest pension fund, AP7, has divested entirely from Tesla and blacklisted the company due to verified violations of labor rights in the United States, which conflict with AP7’s environmental, social, and governance (ESG) criteria. AP7, a state-managed fund serving 5.9 million savers and known for above-average returns, included Tesla among five companies recently blacklisted for failing to meet ESG standards. The other blacklisted firms primarily involve large-scale oil and coal operations that do not align with the Paris Agreement targets. AP7 has blacklisted a total of 114 companies but also removed one, Evergy, Inc., after it took sufficient transition measures. AP7’s decision followed several years of dialogue and shareholder proposals aimed at addressing Tesla’s labor issues, which the company has not adequately resolved. Although the blacklisting relates specifically to labor rights violations in the U.S., AP7 clarified that ongoing labor conflicts involving Tesla in Sweden did not influence their decision, though