Sweden: insurer Folksam offloads Tesla shares due to its anti-union stance

Featured image of the article Sweden: insurer Folksam offloads Tesla shares due to its anti-union stance

An article by Nathalie Tran

Publication

4 April 2025 à 10h45

Reading time

3 minutes

Publication: 4 April 2025 à 10h45

Reading time: 3 minutes

On 2 May, the Swedish insurer Folksam (3,524 employees) announced that it was selling all of its shares in Tesla. It cites issues at the American car manufacturer owned by Elon Musk with regard to workers' rights in Sweden. The company has been in conflict with the Swedish trade union IF Metall for over a year due to its refusal to negotiate a collective agreement on salaries.

An article by Nathalie Tran

Publication

4 April 2025 à 10h45

Reading time

3 minutes

Publication: 4 April 2025 à 10h45

Reading time: 3 minutes

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On 2 May, the Swedish insurer Folksam announced that it was withdrawing its $160 million (€145 million) stake in Tesla because of the electric car manufacturer’s “problematic” attitude towards workers‘ rights in Sweden. “Tesla’s approach to employee rights violates the Folksam Group’s investment criteria,” the insurer said in a statement. These are based on international conventions and the United Nations Global Compact: they concern the climate and the environment, the fight against...

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Featured image of the article Nathalie Tran

Nathalie Tran Editor-in-Chief Mind HR

Featured image of the article Nathalie Tran

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