Guardians of NZ Superannuation Join Investor Initiative on Anti-Myanmar Military Coup
12 August 2021
The military coup in Myanmar this February 2021 has persisted with deaths and detention of protestors, and in conjunction with the military’s ethnic cleansing campaign against the Rohingya community. The Guardians of NZ Superannuation, which oversees the New Zealand Superannuation Fund, recently co-signed an investor statement on human rights and business activities in Myanmar alongside 80+ investors and asset managers with US$ 4 trillion in assets under management or advisement. The signatories collectively state they are: “committed to addressing human rights risks in our portfolios, and specifically in the case of conflict-affected Myanmar, we expect companies to uphold their corporate responsibility to respect human rights by undertaking enhanced due diligence to address and prevent human rights harms and in so doing, mitigate risks associated with such violations.”
According to the NZ Super press release, “The Statement calls on companies across all sectors with business activities or business relationships in Myanmar to:
Immediately map their business activities, relationships and/or investments across their value chain in Myanmar to identify and assess human rights risks and harms that they may have or are causing, contributing to, or are linked to including:
– any and all business relationships, activities and communications involving the Myanmar military, or military owned, controlled or affiliated entities;
– any revenues from such business relationships and activities that may enrich military owned, controlled, or affiliated business and/or provide funding or support to the Myanmar military made before or after the February 1 coup.
Assess and address all identified actual and potential human rights impacts of their business activities and relationships and take steps to mitigate and prevent them.”