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Myanmar: EIRIS Conflict Risk Network urges Coca-Cola, Ford, GE to report robustly under US Govt's Responsible Investment Reporting Requirements, and Capital Group to resubmit report

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Company response
20 November 2013

Response by Capital Group: EIRIS Conflict Risk Network urges Coca-Cola, Ford, GE to report robustly on investment in Myanmar under US Govt's Responsible Investment Reporting Requirements, and Capital Group to resubmit report.

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Article
20 November 2013

US Govt’s Burma Responsible Investment Reporting Requirements - comments, guidelines & company responses

Author: Compiled by Business & Human Rights Resource Centre

Latest update:...EIRIS Conflict Risk Network (CRN) sent letters to US companies Coca-Cola, Ford and GE urging them to submit thorough and accurate reports under the Reporting Requirements; and to Capital Group, urging it to resubmit its report for being “grossly inadequate”. EIRIS CRN emphasized that reports should include identified risks and impacts, and any preventative or mitigating steps taken; detailed disclosures on business partners, related entities and supply chains; and all aspects of “new investment” in Burma regardless of its/their form or makeup. Business & Human Rights Resource Center invited the companies to respond. Links to the letters and responses are provided.

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Company response
19 November 2013

Capital Group response to EIRIS Conflict Risk Network’s letter on the Burma Responsible Investment Reporting Requirements

Author: Capital Group

...Any human rights issues that may affect companies are considered by our investment professionals as part of the investment management process. This approach is consistent with the stated investment objectives and policies of the funds. We believe considering these issues on a company-by-company basis and as part of the investment management process is the best approach to investing in countries such as Burma.

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Company response
19 November 2013

Ford response to EIRIS Conflict Risk Network letter about the Burma Responsible Investment Reporting Requirements

Author: Thomas Niemann, Ford

...Ford is aware of these requirements and is committed to full compliance. We understand the importance of these reporting requirements and how they can help with important human rights, peace and stability initiatives in Burma...

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Company response
16 November 2013

Coca-Cola response

Author: Edward E. Potter, Coca-Cola

…In addition to detailing our due diligence process and findings, our report will address risk prevention and mitigation, stakeholder engagement, partner information, transparency and other topics. We will include information on many of our policies, including our Human Rights Policy, Workplace Rights Policy, Code of Business Conduct for Suppliers…and our Environmental Policies and Procedures. We believe we have set a high standard for ourselves on reporting on our business in Myanmar, and we should more than meet the criteria set out by the State Department…

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Company response
7 November 2013

GE’s response to letter from EIRIS Conflict Risk Network on GE’s submission under the Burma Responsible Reporting Requirements

Author: Mark Nordstrom, GE

…The unattributed statement in a recent news article about GE having already filed a report is simply incorrect. Since there is no current legal obligation for GE to file such a report, no report has been filed. Nevertheless, GE takes its citizenship responsibilities seriously, recognizes the risks associated with the business environment in Burma, and will file all required reports. GE’s approach to operating in this environment will be cautious, incremental, and informed by due diligence commensurate with the size, scope and nature of our operations…

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Article
5 June 2013

[DOC] GE Announces $7 Million Commitment in Myanmar to Support Broad Training and Capacity-Building Efforts

Author: GE

…GE…announced, a $7 million commitment in Myanmar that will support significant training and capacity-building efforts throughout the country. Specifically, the new commitment will focus on strengthening the health care system, improving the energy architecture and promoting the development of Myanmar’s human capacity…

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