By Rachel Fixsen2021-05-24T15:41:00+01:00
The Danish pension fund P+ revealed it has put 11 of its portfolio stocks under close scrutiny regarding their business links to the military regime in Myanmar following the coup at the beginning of February, and may divest them.
The pension fund cited a report published by action group Justice for Myanmar in March, which identified several companies that could have “a problematic relationship” with the military regime in Myanmar or the regime’s state-owned companies.
That report had singled out PGGM and APG in particular for criticism, and both of the Dutch pension investors subsequently announced they had taken action to dissuade holdings from maintaining business links with Myanmar’s military.
By Rachel Fixsen2021-02-10T15:41:00+00:00
Danish pension fund P+ announced it is divesting its shares in 12 foreign companies due to persistent violations of international guidelines on climate, the environment and human and labour rights, saying it is “hopeless” to try to engage with these firms.
The DKK125bn (€17bn) pension fund, which covers professions such as lawyers, economists and engineers, said the global mining companies Freeport-McMoran and Barrick Gold accounted for most of the sell-off, which includes mining, chemical and energy firms.
Kirstine Lund Christiansen, head of responsible investments at P+, said: “The extent of the companies’ negative impact on, among other things, climate, environment, human and labour rights is large and persistent, so we judge it hopeless to try to influence the companies through active ownership.”