AP7, Stockholm, shifted an additional 500 million Swedish kronor ($56.7 million) into a green equity strategy run by Impax Asset Management, a spokesman confirmed.
The new allocation brings the 470 billion Swedish kronor AP7's total investments to the Impax strategy to 1.4 billion Swedish kroner.
Investments are aimed at companies that generate more than 20% of revenues through the sale of products or services in areas such as energy efficiency, renewable energy, water, waste or sustainable food and agriculture.
"We are pleased to increase the size of the mandate awarded to Impax. AP7 has the stated ambition to develop, together with managers, methods to measure the sustainability benefits of investments. We have been able to successfully partner with Impax to develop metrics and methodologies that measure the real-world impact of our investments," Hans Lofgreen, senior portfolio manager at AP7, said in a news release.
The allocation was funded from AP7's passive global equity allocation, the spokesman said.