Yesterday, the government announced that they are replacing the chairmen of AP2, AP3 and AP7. This comes after SVT’s revelations about the major losses in Northvolt.

The background is well known: AP1–AP4 circumvented the law prohibiting direct investments in unlisted companies by creating the jointly owned company 4 to 1 Investments. Through this construction, they invested SEK 5.8 billion of Swedish pension savers’ money in Northvolt.

Per Bolund (Green Party), who was Minister for Financial Markets until early 2021, played a central role. He pushed through regulatory changes that enabled the investment and put strong pressure on the AP funds to lead the “green transition”. In the KU hearing in May 2026, Bolund denied exerting direct pressure on the funds regarding Northvolt specifically and placed the full responsibility on the AP funds themselves.

I’m glad the current government is cleaning house by replacing weak chairmen.

What disappoints me is that the architect behind this scheme — Per Bolund — walks away completely unscathed.

The Green Party, which claims to be the party of the environment, has contributed to shutting down six nuclear reactors and now helped lose billions of pension capital on a high-risk green investment.

And Swedish mainstream media continues to let them get away with it.

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This is a new post on the new dewlar.me blog.
You can find the old blog here:https://mrsdewlar.blogspot.com

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