Fossil fuels are excluded from the Folksam LO funds

26 January 2021

Since the turn of the year, the four Folksam LO funds have excluded the production of fossil fuels, in the form of gas, coal and oil. Folksam LO Sweden is the market’s largest Sweden fund.

– It is extremely gratifying to now be able to tell our customers that the Folksam LO funds no longer contain the production of fossil fuels. It is completely in line with the development we want to see, and is something we are actively working on. It is a milestone in our sustainability work, says Mia Liblik, CEO of Folksam LO Pension.

Swedbank Robur, which manages the Folksam LO funds Folksam LO Sweden, Folksam LO Världen, Folksam LO Väst and Folksam LO Obligation, decided at the turn of the year on a new policy for their entire range, which means that they exclude the production of fossil fuels. In addition to coal, oil and gas, they also choose to exclude investments in unconventional fossil fuels such as Arctic oil / gas, shale oil / gas and oil sands.

Folksam LO Pension has about half a million pension savers. A large part of the unit-linked insurance assets are managed in the Folksam LO funds, which have now excluded the production of fossil fuels. In total, Swedbank Robur manages just over SEK 90 billion in the Folksam LO funds. Folksam LO Sweden is the largest Swedish fund on the market in Sweden.

– We want sustainability to be a natural part of the investment process at our selected funds. We have already excluded coal, games, controversial weapons, tobacco companies or pornographic activities, and with this step we can now further influence the development in line with the Paris Agreement for a more sustainable world, says Mia Liblik.

Source: Folksam