Swedish pension fund AP7 has blacklisted Peabody Energy for violating the terms of the Paris Agreement, the scheme said.

Peabody Energy, a coal company serving the power and steel industry, has been excluded from AP7’s investment portfolio for working against legislations to combat climate change in the United States.

The fund’s blacklist includes companies that do not live up to a level of respect for human rights, the environment and anti-corruption, as well as companies involved in the development and production of nuclear weapons.

Since 2016, AP7 has used the UN Climate Convention and the Paris Agreement as a standard for analysis that has led to the exclusion of 65 companies as of 12 December.

AP7 is the state alternative to the private investment funds offered within the Swedish premium pension system and includes funds AP7 Såfa, AP7 Equity Fund and AP7 Fixed Income Fund.

Since inception, AP7 Såfa has provided the Swedish pension savers higher average returns and lower management fees than the private funds available in the premium pension system.

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