The Ethical Council’s annual report for 2011, which covers joint efforts in the environmental and ethical area between the First, Second, Third and Fourth AP Funds (AP1, AP2, AP3 and AP4), shows positive development for the companies that have been targeted for ongoing dialogue. These improvements can among other things be explained by the Ethical Council’s preventative measures and collaboration with other investors.

Guided by the AP funds’ AP mission and shared core values, the Ethical Council works both on a preventative and reactive basis to make a difference in environmental and ethical issues. Preventative initiatives are an increasingly important way to influence companies and industries towards responsible ownerships and in 2011 the Ethical Council started a special project focused on the mining industry. Other sustainability-related areas where the Ethical Council has launched preventative initiatives include anticorruption, climate change, labour conditions in the electronics industry and environmental impact in the oil sector.

“By taking a preventative approach to strengthening the companies’ sustainability efforts it is possible to avoid serious incidents. The Ethical Council has screened some thirty mining companies to analyze their sustainability performance, and we will now move forward by addressing the shortcomings that have been identified,” says Ulrika Danielson, Chairwoman of the Ethical Council.

In 2011 the Ethical Council conducted dialogues in various ethical and environmental areas with a total of 126 companies worldwide. Two companies on the dialogue list, Duke Energy and Bridgestone, took action in accordance with the Ethical Council’s demands and these discussions can now be terminated.

“Through active dialogue with and monitoring of the companies in relation to well defined requirements, we can see that the Ethical Council is making a difference. At the same time, we are humble and know that there is still much to be done. But the progress we have seen for companies like Duke Energy and Bridgestone, as well as Goldcorp, where the Ethical Council has been pushing for a change since 2008, is a clear example of how we can exert an influence through active ownership,” says Ulrika Danielson.

Read more about the Ethical Council’s company dialogues and other activities in the annual report for 2011, which can be downloaded from the Ethical Council’s website,

For more information contact: Ulrika Danielson, Chairwoman of the Ethical Council in 2012 Telephone: +46 31-704 29 29, E-mail: