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1 Mar 2013

Letter from civil society groups to POSCO investors regarding steel project in Odisha, India - and company responses

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In March 2013, 17 civil society groups wrote to five financial institutions with reported investments in POSCO.  They asked the investors to use their leverage over POSCO-India to urge it to address human rights concerns associated with its steel and port project in Odisha, India. They enclosed a briefing note, detailing those concerns.  Business & Human Rights Resource Centre invited the five financial institutions and POSCO to respond.

[PDF] Letter to Bank of New York Mellon, 20 Mar 2013
       [DOC] Bank of New York Mellon response

[PDF] Letter to Deutsche Bank, 20 Mar 2013
       [DOC] Deutsche Bank response

[PDF] Letter to JPMorgan Chase
       [DOC] JP Morgan Chase response

Letters were also written to Berkshire Hathaway [PDF] and Blackrock [PDF].  We invited them to respond but they did not.

[PDF] Briefing Note: Impacts of POSCO-India’s Project on the Lives of Local People in Jagatsingphur, Odisha, India
       [DOC] POSCO response

Company Responses

Berkshire Hathaway

No Response

BlackRock

No Response

BNY Mellon View Response
Deutsche Bank View Response
JPMorgan Chase View Response

Timeline