SVT journalists win investigative award for exposing pension fund losses in Northvolt deal

Swedish public broadcaster SVT has been awarded the prestigious Guldspade prize for an investigation revealing how state pension funds lost billions in a controversial Northvolt investment, the broadcaster reported Friday.

Reporters Kristina Lagerström and Johan Zachrisson received the award in the national media category for their exposé showing how AP-fonderna (Sweden’s national pension buffer funds) circumvented rules against direct unlisted investments. The funds used a shell company with no employees—controlled by AP-fonderna officials—to channel 6 billion kronor into Northvolt, a battery manufacturer.

“We’re incredibly happy the jury is highlighting how authorities fail to understand that transparency and openness toward media are fundamental in a democracy,” the journalists said. “This is about those in power being accountable for other people’s money—in this case, all Swedes’ pensions.”

The Guldspade (Golden Spade) is awarded annually by the Swedish Association for Investigative Journalism (FGJ) to reporters who uncover significant information previously unknown to the public.

In a separate award, SVT Gävleborg received the jury’s special prize for its investigation “Blindbocken,” which exposed a man who lured victims into a sexual trap in central Gävle over several years.