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Swedish king unloads 'un-green' stock

Jan. 27, 2006 at 7:03 PM   |   Comments

STOCKHOLM, Sweden, Jan. 27 (UPI) -- King Carl XVI Gustaf of Sweden has sold his stock in a company that has been blamed for logging in the Amazon rain forest.

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.

© 2006 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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