abusesaffiliationarrow-downarrow-leftarrow-rightarrow-upattack-typeburgerchevron-downchevron-leftchevron-rightchevron-upClock iconclosedeletedevelopment-povertydiscriminationdollardownloademailenvironmentexternal-linkfacebookfiltergenderglobegroupshealthinformation-outlineinformationinstagraminvestment-trade-globalisationissueslabourlanguagesShapeCombined Shapelocationmap-pinminusnewsorganisationotheroverviewpluspreviewprofilerefreshnewssearchsecurityPathtagticktooltiptwitteruniversalityweb
Story

The Price of Steel: Human Rights and Forced Evictions in the POSCO-India Project - and company responses

In June 2013, ESCR-Net and the International Human Rights Clinic (IHRC) at NYU School of Law launched the following report:

The Price of Steel: Human Rights and Forced Evictions in the POSCO-India Project

As well as raising specific concerns about POSCO’s activities it called on investors to leverage their influence to ensure that POSCO respects the rights of communities in the project area (see pages 77-78 of the full report [PDF] for the specific calls on investors).  ESCR-Net and others also urged Dow Jones to remove POSCO from its sustainability index.  

Business & Human Rights Resource Centre invited the companies to respond:

[PDF] POSCO response (Note: the report authors IHRC and ESCR-Net are preparing a reply to this response, which we will provide here)

[PDF] RobecoSAM / Dow Jones response

INVESTORS:

[DOC] APG response

[DOC] Bank of New York Mellon response (to related March 2013 letter by civil society groups about the POSCO project, raising similar concerns)

Berkshire Hathaway - has not responded

[DOC] Blackrock response

[DOC] Deutsche Bank response (to related March 2013 letter by civil society groups about the POSCO project, raising similar concerns)

[DOC] JP Morgan Chase response (to related March 2013 letter by civil society groups about the POSCO project, raising similar concerns)

NBIM - has not responded to this report.  Information about an OECD Guidelines complaint brought against NBIM over its POSCO investments is here.

Company Responses

Berkshire Hathaway

No Response

BlackRock View Response
BNY Mellon View Response
Deutsche Bank View Response
S&P Dow Jones Indices (joint venture S&P Global, CME Group, News Corp.) View Response
JPMorgan Chase View Response
Norges Bank Investment Management (NBIM)

No Response

Story Timeline