AP7, Stockholm, divested stocks of six energy companies, a spokesman said.
The 375.9 billion kronor ($43 billion) pension fund excluded ExxonMobil Corp., Gazprom, TransCanada Corp., Westar Energy, Entergy Corp. and Southern Co. from its equity allocation.
The amount invested in these companies totaled €400 million ($448 million), and it will be invested in a “green impact” portfolio, the spokesman added.
AP7 is currently searching for managers to incorporate environmental, social and governance into the allocation through the “green impact” portfolio. The pension fund will award two to four mandates toward the end of 2017.