Shareholder activists set to speak with Chevron regarding Rohingya situation
Shareholder activists will speak with Chevron Corp next week to request the energy giant use its influence with the government of Myanmar to press for a resolution of ethnic violence that has led to a refugee crisis...Azzad Asset Management [plan] to discuss a letter they sent that...asked the company to consider cutting ties with “governments complicit in genocide". Chevron...does business in Myanmar through a subsidiary, Unocal Myanmar Offshore Co Ltd. It has projects that include a minority interest in natural gas production and a pipeline... Chevron...said “Chevron conducts our business in a responsible manner, respecting the law and universal human rights to benefit the communities where we work, including Myanmar”...confirming that the company would speak to the investors. More than 536,000 Rohingya Muslims have fled Myanmar since Aug. 25, when coordinated Rohingya insurgent attacks sparked a ferocious military response...Azzad...was “growing increasingly concerned over the lack of a constructive response from Chevron” on its requests since the letter was sent, in August. In addition to Azzad, an Islamic finance firm, the other lead filer... the Ursuline Sisters of Tildonk...International Campaign for the Rohingya...planned to send similar letters to other companies doing business in Myanmar, signed by shareholders in those companies.