The Swedish AP funds' Council on Ethics 2024 annual report revealed "proactive work" to address systemic issues, including antimicrobial resistance and the extraction of critical metals and minerals for the green transition.

The Council on Ethics also appointed two sustainability specialists, which, according to the report, significantly increased resources and advocacy work, particularly in five "proactive" focus areas.

The focus areas were antimicrobial resistance, child labour and forced labour, climate change, tech companies' consideration of human rights, and water.

Overall, the council reviewed 3,307 companies for involvement in violations of international conventions and guidelines and conducted 77 reactive dialogues conducted during the year.

Eight companies successfully achieved the dialogue's goals, which were thus concluded, and one was recommended for exclusion.

Council on Ethics chair, Åsa Mossberg, said that with expanded resources, the Ethics Council had the expertise and power to provide stronger support to the
AP funds as an important part of the funds' sustainability work.

"The Ethics Council is particularly important for the AP funds in complex sustainability issues, where collaboration is of great benefit," she added.

Council on Ethics head, Jenny Gustafsson, also commented on the findings: "2024 offered a full year with full staffing, which has meant opportunities to increase the pace of the Ethics Council's work in the long term.

"The Ethics Council's mission is to manage significant sustainability risks for the AP funds and to support the AP funds in complex sustainability issues."

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