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Banks buy into jail-labour firm; Six financial giants among top shareholders of China's largest wig manufacturer which uses prisoners to make its products
Author: Jamil Anderlini, South China Morning Post [Hong Kong]
Six of the world's largest financial institutions have bought shares in a Chinese wig manufacturer that could be barred from the United States, its biggest market, because it uses forced labour to make some of its products. Deutsche Bank, HSBC, ING,...
HSBC response to South China Morning Post article raising concerns about shares in the Chinese company Henan Rebecca
HSBC recognises its duty to society and to conduct our business responsibly with the highest standards of professionalism and with absolute integrity...HSBC has not purchased shares in the company mentioned in the reports to which you refer. Our name...
- Related stories: 6 banks listed among top shareholders of Chinese wig firm reportedly using forced prison labour: Deutsche Bank, HSBC, ING, Merrill Lynch, Morgan Stanley, UBS
- This is a response from the following companies: HSBC
[DOC] UBS response to South China Morning Post article raising concerns about shares in the Chinese company Henan Rebecca
In May 2003 UBS was granted "Qualified Foreign Institutional Investor" (QFII) status by the China Securities Regulatory Commission. QFII permits UBS to provide their clients with direct access to China's domestic equity and debt markets. The purchase...
[PDF] ING response to allegations of investing in a company [Henan Rebecca] reportedly using Forced labour [China]
Author: M.G.J.C. de Wolff-Janssen, Head, Corporate Responsibility, ING Group
...In this case ING has been providing market access for its clients. This means that ING buys the shares passing on the beneficial ownership to the investors. It is the investors' choice whether or not to maintain the holding or sell the shares. In...
Author: William Baue, SocialFunds.com
On August 17, 2005, the South China Morning Post, Hong-Kong's English-language newspaper, printed an article alleging that mainland China wig manufacturer Henan Rebecca Hair Products employs the forced labor of prisoners in Xuchang. The company's half...
Author: Shannon Lawrence, Environmental Defense [USA] & Sébastien Godinot, Amis de la Terre [France]
A l'occasion de l'Assemblée Générale de la Banque mondiale..., les Amis de la Terre et Environmental Defense (Etats Unis) publient un rapport mettant en évidence les reculs progressifs des normes environnementales et sociales de la Banque mondiale dans...
Legal Remedies for the Resource Curse - A Digest of Experience in Using Law to Combat Natural Resource Corruption
Author: Open Society Justice Initiative
Legal Remedies for the Resource Curse is a digest of practical experience in using law to combat corruption across jurisdictions. When resource extraction companies can obtain oil, diamonds, gold, coltan, timber, and other natural resources through...
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Author: Alistair Foster, Evening Standard [UK]
Senior investment banker Peter Lewis is launching an industrial tribunal claiming he was sacked because of his sexuality...An HSBC spokesman said Mr Lewis was dismissed 'after a lengthy disciplinary proceeding'. But bank sources claim it will argue...
- Related companies: HSBC
The U.S. Environmental Protection Agency (EPA), the U.S. Department of Energy (DOE), and the Center for Resource Solutions (CRS) have announced the winner's of the 2005 Green Power Leadership Awards... The highest honor in purchasing, the Green Power...
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