Norway’s sovereign wealth fund recently announced that it would drop two Thai energy companies including PTT Plc and PTT Oil and Retail Business Plc (OR) from its portfolio over concerns of human rights abuses in Myanmar.
The fund explained that what the Thai companies took part in could hold “unacceptable risk” of human rights’ violations and cited an “unacceptable risk that the companies contribute to serious violations of individuals’ rights in situations of war or conflict.”
According to Reuters, the fund’s ethics council said the Thai firms’ partnerships with Myanmar companies, both state and military owned, and its activities there provide the armed forces “with substantial revenue streams that can finance military operations and abuses.”
Source:
- https://www.reuters.com/business/sustainable-business/norway-sovereign-wealth-fund-excludes-firms-it-says-may-contribute-rights-2022-12-15/
- https://www.bangkokpost.com/business/2462135/norwegian-fund-dumps-ptt-over-rights-concerns
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ScanAsia and its hypocracy: Some human right news CAN be reported, and others not; and especially not commented… 😉
Do you feel credible?