Northvolt, Europe's green battery hope, filed for bankruptcy. Stegra faces £858m funding gap after green steel hype. AP2 pension fund lost £117.7m in Northvolt. AP2 holds £46.8m in Stegra plus £15.6m via Al Gore fund. AMF pension risks 1.9bn kronor. Swedish pensions funneled into high-risk green firms by government funds. Billionaire Harald Mix quit Stegra amid failures. Taxpayers backstop losses via state guarantees. UK Chancellor Reeves copies Sweden with Sterling 20 pension push. Sweden Democrats blast left-wing green gamble with savers' money. Professors call it socialized downside for businessmen's upside. EU green subsidies lose to Chinese support. EV demand crash killed Northvolt. Trump reversal guts US decarbonization. Pension experts warn UK against government-twisted investments. Mandating UK pension flows risks stretched private markets. British firms don't need mandates if truly best returns. Large funds chase scarce viable projects into riskier bets. Treasury claims voluntary targets unlock £25bn despite dangers.