Kirin Holdings Ltd has been put under observation by Norway’s sovereign wealth fund due to concerns regarding the Japanese brewery maker’s contribution to serious violations of human rights.
According to a recent statement from Norges Bank Investment Management – the fund’s official name – The Council on Ethics has recommended placing the company under observation based on Kirin’s business cooperation with an organization with ties to the military in Myanmar.
Kirin has previously announced the company’s intention to end its business corporations in Myanmar but the Oslo-based fund is managed according to a wide range of ethical guidelines and puts companies under observation or excludes them from its investment universe based on advice from the ethics council.
The wealth fund, which is the world’s biggest stock owner, stated it will follow up with Kirin.
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