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22 Jan 2024

Norges Bank's decision to place KDDI & Sumitomo under observation period for human rights risks; incl. co. response

The Executive Board of the Norges Bank has decided to place KDDI Corp and Sumitomo Corp under observation for possible exclusion from the Norwegian Government Pension Fund Global (GPFG). A subsidiary of a joint venture company of KDDI Corp and Sumitomo Corp in Myanmar, KDDI Summit Global Myanmar Co., Ltd. (KSGM), is recommended to be assessed based on ethical guidelines that provides "[c]ompanies may be excluded or placed under observation if there is an unacceptable risk that the company contributes to or is responsible for serious violations of the rights of individuals in situations of war or conflict."

Business & Human Rights Resource Centre invited KDDI Corp and Sumitomo Corp to respond to Norges Bank's decision, responses provided.