Sweden’s Largest Fund Dumps Tesla (TSLA) Shares & Blacklists Firm

Final Up to date on: 18th June 2025, 12:18 pm

One among our readers has handed alongside some fascinating information that we missed previously week. I’ll let him summarize it since he did that nicely in an electronic mail to CleanTechnica.

“The most important fund in Sweden, AP7, has offered all it’s shares in Tesla and blacklisted the corporate due to their violation of labour rights within the US, and thus not fulfilling AP7’s ESG necessities,” Björn Ylinenpää writes. “AP7 is the state different to non-public funds within the Swedish pension system. It has 5.9 million savers and has had an above common return.”

The information comes from a press launch from AP7 that lists 5 corporations it’s blacklisting and why. Right here’s what AP7 wrote:

• Chord Power Company (USA)
  Appearing towards the targets of the Paris settlement by means of large-scale oil operations with out transition plans.
• Coterra Power Inc (USA)
  Appearing towards the targets of the Paris settlement by means of large-scale oil operations with out transition plans.
• JSW Power Restricted (Indien)
  Appearing towards the targets of the Paris settlement by means of large-scale coal operations with out transition plans.
• PRIO SA (Brasilien)
  Appearing towards the targets of the Paris settlement by means of large-scale oil operations with out transition plans.
• Tesla Inc (USA)
  Involvement within the violation of labor rights within the USA.

In whole, AP7 has blacklisted 114 corporations. Although, on this announcement, it additionally shared that one firm has been faraway from the blacklist. “Evergy, Inc. has been re-evaluated after taking adequate transition measures and due to this fact not meets the factors for blacklisting.”

AP7 elaborated slightly bit on the Tesla blacklisting, mainly saying what Björn wrote above. “AP7 has determined to blacklist Tesla as a result of verified violations of labor rights in america. Regardless of a number of years of dialogue with Tesla, together with shareholder proposals in collaboration with different buyers, the corporate has not taken adequate measures to handle the problems.”

Notably, as you may see there, the priority is about labor rights within the USA. It doesn’t surprisingly, spotlight the labor union battle in Sweden. Nonetheless, Björn provides, “Should you surprise if it pertains to the continued labour battle in Sweden, right here you may have an article the place the union-owned Dagens Arbete ask AP7 simply that, in Swedish although: https://da.se/2025/06/sjunde-ap-fonden-svartlistar-tesla/” Utilizing Google Translate, I discover this quick part within the article:

How has IF Metall’s battle with Tesla in Sweden contributed to your choice?

– Under no circumstances. Nevertheless it has bolstered the picture that there are main issues with union rights inside the firm.

Fascinating….

Will we see extra such TSLA gross sales and blacklisting from different main funds now that AP7 has achieved this? Who is aware of? These US labor issues have been round for a number of years. Nonetheless, current political actions from Elon Musk have clearly ticked individuals off, and I ponder how a lot of that is AP7 management merely discovering a selected, extra sturdy or sound clarification for why they’re promoting all of their Tesla inventory and blacklisting the corporate. That mentioned, the labor union matter is clearly a scorching matter in Sweden, and elevating the US labor issues is definitely a stable rationale — Elon Musk was even convicted by a choose of union busting previously. So, perhaps it’s all merely about what AP7 says it’s about.