The revelation that the royal family owned shares in Aracruz Cellulose angered and embarrassed fellow Swedes, the Times of London reported. The country is eco-conscious, with the rain forest a subject everyone studies in school, and the king is chairman of the Swedish branch of the World Wildlife Fund.
"Aracruz is a very hot political potato," said Maria Rydlund of the Swedish Nature Protection Association. "One should have been aware of what one was investing in."
Environmentalists say Aracruz is cutting down rain forest to make land to grow eucalyptus, and two Indian tribes are trying to reclaim thousands of acres of land they say the company pushed them from.