A serious Swedish pension fund introduced that it's going to "not put money into fossil fuels." 

Första AP-fonden (AP1), which is considered one of 5 pension funds within the nation's nationwide earnings pension system, outlined the explanations for its choice in a press release issued Monday.

The Stockholm-based fund defined that the transfer towards a low-carbon financial system much less reliant on fossil fuels represented "a considerable uncertainty for firms concerned in coal, oil and pure fuel actions."

It added that "continued investments associated to those actions can enhance the monetary threat publicity of the fund" and stated its choice was one measure being taken to handle the fund's "local weather threat publicity."

As of December 31 2019, AP1 had 366 billion Swedish krona (round $36.82 billion) of belongings beneath administration.

On Monday, the fund's chairman, City Hansson Brusewitz, described divesting from fossil fuels as "an environment friendly method for the fund to handle the monetary threat...