AP2’s Sustainability Report for 2025 describes how the Fund works to deliver a good pension through a robust sustainability approach and maintained focus in an uncertain external environment. AP2 achieved all sustainability targets set for the year and continues to integrate sustainability to create value.

The Sustainability Report has been prepared in accordance with the frameworks TCFD (Task Force on Climate-related Financial Disclosures), TNFD (Taskforce on Nature-related Financial Disclosures) and the UN Guiding Principles on Business and Human Rights.

“In a changing world, we stay true to our mission and work to deliver a good pension for both current and future generations. Sustainability is an integral part of our mission and a prerequisite for delivering strong long-term returns and for contributing to a good pension in a broader sense,” says Eva Halvarsson, CEO of AP2.

“Over the year, we have seen that the uncertain environment creates a greater need to work actively to understand and manage increasing risks for both people and the environment. At the same time, as political currents move toward greater short-termism and begin to question the overall scientific consensus, it is important that we continue to act with a long-term perspective,” says Eva Halvarsson.

“In 2025, we achieved our targets within all focus areas, with reduced greenhouse gas emissions, detailed climate plans for all asset classes and processes for a deforestation-free portfolio. We have implemented the UN Guiding Principles on Business and Human Rights and increased our corporate engagement activities while also developing methods to follow up on that work,” says Eva Halvarsson.

Key progress in 2025

• Reduced emissions and concrete climate plans: In 2025, AP2 reduced the portfolio’s greenhouse gas emissions by 38 per cent compared with the 2019 base year, meaning the Fund exceeded its target of at least a 35 per cent reduction by 2025. Climate plans are now in place for all asset classes with concrete steps toward the commitment to reach net-zero emissions by 2045.
• A portfolio that does not contribute to deforestation: Within biodiversity, the Fund has implemented a structured process to identify and manage deforestation risks in the portfolio.
• Strengthened work on human rights: In 2025, AP2 implemented the UN Guiding Principles on Business and Human Rights in its asset management operations. The work has been strengthened in conflict-affected and high-risk areas and through increased focus on living wages and supply chains in selected sectors.
• Active ownership: As a long-term and active owner, AP2 uses dialogue, collaboration and voting to influence companies in a more sustainable direction. During the year, the Fund developed its methods for following up the outcomes of corporate engagements and strengthened its collaborations with other investors. During the year AP2 voted at 87 Swedish and 1,228 non-Swedish annual general meetings in 42 countries.

Read AP2’s full Sustainability Report for 2025 on the Fund’s website www.ap2.se. English version will be published in May.

For further information, please contact:

Eva Halvarsson, CEO, eva.halvarsson@ap2.se

Åsa Norman, Head of Communications and Sustainability, asa.norman@ap2.se