The Joint Ethical council for Swedish First, Second, Third and Fourth AP Funds, have published the 2010 annual report. The report mentions how the four AP funds are attempting to make a difference by using their influence as owners to take action against violations of international conventions and infringements and are demanding change.
Nadine Viel Lamare, member of the Ethical Council commented, ‘’The progress we see in the companies with which we are engaged in dialogue has reaffirmed our conviction that the Ethical Council’s guiding principles to act on the basis of commitment, action and change in order to make a difference is the right approach for us as a responsible, long-term investors.’’
She continues by adding, ‘’It can sometimes take time to gain a hearing for our views, but experience shows that we do more good as owners by making demands on the companies than by selling our holdings. A sale generally doesn’t solve the problem in the company and we therefore do our utmost to urge the companies to make a change. The sale of a holding can be a last resort when no other means of influence is effective. "
Read more about the Ethical Council business dialogues and other activities in the annual report for 2010
Comments