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Major funds exposed to companies allegedly engaged in Uyghur repression in China
Key Excerpts from Article on Website of The Guardian (One of the UK's Leading Newspapers)
Posted: December 12th, 2022
https://www.theguardian.com/world/2022/nov/23/major-pension-...
Many of the world’s largest asset managers and state pension funds are passively investing in companies that have allegedly engaged in the repression of Uyghur Muslims in China, according to a new report. The report, by UK-based group Hong Kong Watch and the Helena Kennedy Centre for International Justice at Sheffield Hallam University, found that three major stock indexes provided by MSCI include at least 13 companies that have allegedly used forced labour or been involved in the construction of the surveillance state in China’s Xinjiang region. In recent years, China has come under increased scrutiny over what the UN has called “serious human rights violations” against Uyghur Muslims in the region, including systemic discrimination, mass arbitrary detention, torture, and sexual and gender-based violence. The report includes a list of major asset managers, including BlackRock, HSBC and Deutsche Bank among others, exposed to index funds that include companies accused of engaging in labour transfers and the construction of repressive infrastructure in the region. It found public pension funds across the UK, Canada and the US and funds in New Zealand and Japan exposed by the investments. “So many people’s pensions, retirement funds and savings are invested passively because, as average consumers, we don’t have time to investigate each and every investment,” said Laura Murphy, one of the report’s authors and professor of human rights and contemporary slavery at Sheffield Hallam University.
Note: Read an eye-opening article about the shocking human rights violations happening to the Uyghur people under the auspices of the Chinese government. For more along these lines, see concise summaries of deeply revealing news articles on financial system corruption from reliable major media sources.
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