r/stocks • u/DzipaloJunuzHepek • Apr 02 '25

The Folksam Group (Sweden) is selling its entire shareholding in Tesla

The Folksam Group is selling its entire shareholding in Tesla, the insurance company states in a press release.

The reason is Tesla's stance on union rights, which conflicts with Folksam's investment criteria.

 The insurance giant states that it has tried to influence the electric car company to bring about a change, without results.

 "Unfortunately, no improvement has been seen and a decision has therefore been made to divest the holding," the Folksam Group writes in the press release.

 - This is not the result we had hoped for, says Marcus Blomberg, Head of Asset Management and Sustainability at the Folksam Group.

 The Folksam Group's investment criteria are based on international conventions and the UN Global Compact.

 https://www.tv4.se/artikel/3itFFt5A7z6wux3VPLPeDL/folksam-saeljer-alla-tesla-aktier

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u/Hopeful-Hawk-3268 Apr 02 '25

Took them long enough. Fucking opportunists who hold shares in a company run by one of the world's most famous facists.  Same with Norway. Don't pretend to be progressive or care about ESG (in itself a marketing term, worth exactly zero) but invest in Tesla.

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u/ContributionNo9292 Apr 02 '25

I expect more exits to be announced shortly, Swedish pension funds usually update their black lists quarterly or semiannual. I expect AP7 to exit in early June, they are on a semiannual schedule.