News

NordAN sent another letter of concern regarding Nordic State Fund investment practices

In a short time period, it has been revealed that both Norway and Sweden are investing public money into Canadian cannabis companies. Two weeks ago NordAN board sent a letter to Norway Ministry of Finance and the members of the Parliaments Standing Committee on Finance and Economical Affairs.

Few days after that Drugnews wrote about similar practices in Swedish State fund AP7 which has invested in two Canadian cannabis companies. NordAN has now sent another letter to the Minister for Financial Markets, Mr Per Bolund and to the president of the AP7 fund, Mrs Rose Mari Westman.

“As we understand that the management of the Fund will soon, in coming months, go through the fund’s equity portfolio, we urge you to consider these specific investments as unsustainable and unethical and to remove these from your portfolio,” the letter says.

NordAN board supports the position of Sveriges Landsråd för alkohol- och narkotikafrågor (SLAN), NordAN member organisation, that states that “It is highly inappropriate for the state’s 7th AP fund to invest in the cannabis industry. SLAN expects the Fund to end its involvement in the cannabis companies, otherwise the politically responsible should act.”

You can find the letter of concern HERE