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Letter to US Secretary of State Kerry opposing relaxation of Reporting Requirements on Responsible Investment in Burma
Author: Intl. Corporate Accountability Roundtable, US Campaign for Burma, NYU Stern Center for Business and Human Rights, Amnesty International USA, Investors Against Genocide, AFL-CIO, Global Witness, EarthRights Intl., Published on: 20 July 2016
We, the undersigned organizations, write to express our disappointment with the U.S. Department of State’s (DOS) recent decision to raise the reporting threshold of the “Reporting Requirements on Responsible Investment in Burma” from $500,000 to $5,000,000. We urge DOS to issue a public statement explaining the reasons and supporting evidence to justify the need to increase the reporting threshold... There is a particular need to ensure that U.S. investments, large and small, do not exacerbate ongoing human rights abuses. This is why over 50 civil society organizations and companies, including Coca-Cola and The Gap, submitted public comments this year supporting the renewal of the Reporting Requirements and calling on DOS to further strengthen them... [There] is no evidence suggesting that the Reporting Requirements did create an undue burden on businesses that impedes investment in Burma... U.S. companies and investments are well regarded in Burma because they adhere to the “gold standard” of investment, wherein business operations are socially responsible and respect human rights.