Sweden's $80B Giant Just Dumped Tesla -- Here's Why It Could Spark a Bigger Investor Revolt

Folksam, managing much than $80 cardinal successful assets, sold its $160 cardinal involvement aft tryingtwiceto propulsion Teslas enactment toward corporate bargaining agreements for Swedish mechanics. No dice. Tesla, led by Elon Musk, insists its worker benefits are already competitive. But that wasnt capable for Folksam. No betterment has been seen, said Marcus Blomberg, the insurers caput of plus absorption and sustainability. Translation: we tried engagement, it didnt work, were out.

This isnt conscionable astir 1 Scandinavian money selling a fraction of a percent. Its a informing shot. In ESG-heavy markets similar the Nordics, labour standards are non-negotiableand investors are consenting to walk. If others travel Folksams lead, Tesla could look much unit successful Europe, not conscionable from unions, but from superior looking for companies that lucifer their values.

This nonfiction archetypal appeared connected GuruFocus.