Myanmar Post-Coup

Following the military junta's coup in February 2021, there was increased investor concern about their portfolio companies' direct business activities or business relationships in Myanmar, particularly those that directly or indirectly support or entrench the military junta. For example, oil and gas sector companies are an essential source of revenue for the military junta. 

In July 2021, the Investor Statement on Human Rights and Business Activities in Myanmar, supported by 86 investors with more than $4 trillion in combined assets, called on companies to uphold their corporate responsibility to respect human rights by undertaking heightened human rights due diligence on their activities linked to Myanmar to identify and address human rights harms and in so doing, mitigate legal, financial, and reputational risks associated with such violations. 

The statement, as an expression of investors' concerns, provided the foundation for a coordinated corporate engagement led by three members - Storebrand, Domini, and Heartland Initiative, as an investor-led working group engaging in the conflict in Myanmar. In July 2021, initial outreach emails with the statement were sent to 27 companies in sectors such as oil and gas, tech, infrastructure, and automotive. Since then, the number of engaged companies has continued to grow. 

The Investor Alliance team coordinates calls for the investor working group and interested investors to facilitate shared information on the latest developments as well as organize capacity-building webinars and discussions, often bringing in civil society expertise. 

If you are interested in learning more about our work, please get in touch with Rebecca DeWinter-Schmitt