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.
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 corruption
…Do you have information to share with us?
Article authors
Nathalie Tran
Editor-in-Chief Mind HR