In mid-February this year, the military in Myanmar staged a coup against the lawful government. Pension provider APG and its largest client, pension fund ABP, find this situation extremely worrying.
APG does not invest in local companies in Myanmar. However, we do invest in some global companies that operate in Myanmar and may have business or financial ties with the military. APG has been engaging with our investee companies on this issue for some time – also already prior to the military coup. In addition to financial criteria, we consider ESG-criteria – including human rights – in all our investment decisions. We have conveyed our great concerns to all investee companies that operate in Myanmar. We also ask them to reconsider their position in the country.
APG does not invest in government bonds of countries, such as Myanmar, that are subject to a binding weapons embargo imposed by the UN Security Council or the European Union.
Pension fund ABP , APG 's largest client, considers respect for human rights an important precondition for responsible investing. We regret that the Justice for Myanmar report may have given the impression that we would ignore the situation caused by the military coup in Myanmar.