The Global Network Initiative welcomes its newest investor member, the Ethical Council, a collaboration between four funds in the national Swedish pension system. “The Ethical Council is the first pension fund to join the growing group of investors in GNI supporting free expression and privacy rights in the technology sector,” said GNI Executive Director Susan Morgan.
The Ethical Council is a unique partnership between the four buffer funds in the Swedish National Pension System – The First AP-fund (AP1), Second AP-fund (AP2), Third AP-fund (AP3) and Fourth AP-fund (AP4). Together, the AP Funds manage assets exceeding US$ 140 billion. Founded in 2007, the Ethical Council is an innovative initiative through which the AP Funds can collaborate more effectively to address environmental, social and governance (ESG) factors in their investments.
“Telecommunications and internet companies face big challenges when it comes to protecting freedom of expression and data privacy,” said Christina Kusoffsky Hillesöy, Chairwoman of the Ethical Council. “We engage in many companies on human rights issues and we see GNI as a good platform and benchmark tool for our engagement with this sector.”
“Investors have a strong interest in encouraging ICT companies to respect the rights of their users while continuing to operate in diverse markets around the world, said Bennett Freeman, GNI Board Secretary and Senior Vice President for Sustainability Research and Policy at Calvert Investments. “We welcome the first pension fund to participate in GNI and look forward to working together with the Ethical Council to promote GNI’s Principles on free expression and privacy in Sweden and around the world.”