A debate that comes up now and then in Sweden is where our pension money should be invested, since a part of Sweden’s retirement capital is invested in funds.
After the oil disaster in the Mexican Gulf, deep sea oil drilling and tar sands exploitation have been in focus.
Now the bank Swedbank’s Robur funds have decided that their ethically profiled fund shall refrain from all investments in companies that extract oil from tar sands. Last week they sold their posessions in BP and Shell.
The reasons given by the fund is that extraction of oil from tar sands is linked to great impacts on environment and climate, and that there are risks of violating indigenous peoples’ human rights.
– The main reason for selling our assets in BP and Shell is partly their connection to tar sands, but also these companies’ repeated security problems, says Anna Nilsson, who is head of the responsible investments department at Swedbank Robur Fonder, to the environment news letter MiljöRapporten Direkt.
The reactions on this has mainly been positive. But, argue some, not investing in tar sands is just a part of the bigger picture. As long as we keep consuming oil, there will still be an interest in continuing to extract tar sands.







