AP Pension to Dump Tobacco Stocks
Posted on 09/09/2019
AP Pension, a Danish pension system, moved to put all tobacco producers on its negative list. This means AP Pension will sell their holdings in tobacco-producing companies in all funds where they have a controlling influence, which is almost 100% of its equities portfolio. AP Pension made the move to exclude tobacco stocks due to its work with the U.N. Global Goals for Sustainable Development.
AP Pension estimates the amount of the sale of tobacco stocks could be a “a three-digit million amount” of equity investments before the end of 2019.