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 * Sustainable Business


SWEDEN’S SEB CHANGES COURSE ON DEFENSE STOCKS AS WAR TESTS ESG RULES


FINANCIAL GROUP SAID SOME OF ITS CLIENTS WANT TO INVEST IN WEAPONS MAKERS;
MILITARY SPENDING IS SET TO SURGE

A SAAB JET FIGHTER IN 2017. THE SWEDISH COMPANY’S SHARES HAVE RISEN BY 48% IN
THE PAST FIVE DAYS.

Photo: SATISH KUMAR/REUTERS
By Ed Ballard
March 2, 2022 3:36 pm ET

Print

Text



Sweden-based financial-services company Skandinaviska Enskilda Banken AB said it
would permit some of its funds to buy shares of weapons makers and defense
companies, reversing a position it adopted just a year ago as part of its
commitment to investing based on environmental, social and governance
principles.

SEB will from April 1 allow six out of its more than 100 funds to invest in
companies that generate more than 5% of their revenue from the defense business.
SEB announced the change in its sustainability report on Tuesday and listed the
funds that will be allowed to invest in defense companies.

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