Tuesday, March 2, 2021
Home News Reports Danish Pension Fund blacklists China, to pull out investments worth €54 million over human...

Danish Pension Fund blacklists China, to pull out investments worth €54 million over human rights violations

The CEO of AkademikerPension, Jens Munch Holst, revealed that China was under the scanner of the organisation since the last 12 months for its questionable human rights violations

AkademikerPension, a pension fund in Denmark, has announced that it is axing investments in China over human rights violations. The pension fund for academics says that it will get rid of both Chinese equities and government bonds by divesting about 400 million Danish kroner (€54 million) in investments by the year-end.

Besides human rights violations committed by the Chinese Community Party, the pension fund also cited several other reasons for it to call for a countrywide blacklisting. Some of the reasons stated by the fund included the passage of the new draconian security law in Hong Kong, forced detention of over 1 million Uighur Muslims at internment camps across restive Chinese province of Xinjiang, and systematic persecution of minorities and political opponents.

China was under the watch of the pension fund since the last 12 months: AkademikerPension CEO

The CEO of the pension fund, Jens Munch Holst, said that decision to divest from China was being deliberated among the executives since the last 12 months. “The situation in these last 12 months have deteriorated even further. It is a well-known fact that China systematically suppresses dissenting voices and violates human rights. We can no longer neglect their gross iniquities,” he said.

Mr Holst also added that his pension fund has developed a new mechanism that allows executives to divest “without profoundly affecting their internal investment procedures”, and it has therefore decided to terminate their investments in China.

“Our intention to raise our social profile when it comes to accountability. Our pension fund’s vision is that return and accountability must go hand in hand, and when we talk about accountability, it is difficult to argue in favour of investments in China,” Mr Holst said.

This is not the first time that AkademikerPension will drop a country from its portfolio. The fund has so far excluded 36 countries, including Saudi Arabia and Iran. Though it revises its list once a year, an exception was made when it excluded China outside of its regular schedule.

China facing severe criticism for its poor human rights record in Xinjiang and the new sweeping security law in Hong Kong

China is facing a global condemnation after several reports pointed towards Beijing’s horrific campaign of brutality against the Uighur Muslim population in Xinjiang. Recently a report published by Australian Think Tank revealed that China levelled more than 16,000 mosques in Xinjiang, in a bid to destroy the religious and cultural heritage of its Muslim minorities.

China has also drawn flak for imposing a sweeping new security law on Hong Kong, that reduces the autonomy of the city and grants Beijing broad powers to crack down on a variety of political crimes, especially to curtail pro-democracy protests that had roiled the city last year.

  Support Us  

Whether NDTV or 'The Wire', they never have to worry about funds. In name of saving democracy, they get money from various sources. We need your support to fight them. Please contribute whatever you can afford

OpIndia Staffhttps://www.opindia.com
Staff reporter at OpIndia

Related Articles

Trending now

The Hindu ‘journalist’ Suhasini Haidar puts out misinformation about ISRO satellite launch: Read details

Suhasini Haidar, National Editor of 'The Hindu', put out false information on social media in attempt to mislead the public.

Watch: ‘Replace those who are not actively participating’ Union Minister Piyush Goyal disciplines irregular babus

Piyush Goyal was unhappy with members of governing council of Indian standards as their videos were switched off.

‘Inserted her hand claiming she was planting a tree’: LGBT activist Divya Dureja accused of sexual assault under pretext of shamanic ritual

A popular LGBT activist Divya Dureja has been accused of sexual assault by Elodie Gendron under pretext of a Shamanic ritual.

“You better withdraw the petition, warna jo kaam karte ho wo bhi band ho jaega”: Delhi HC pulls up petitioner over frivolous PIL

A plea was filed in the Delhi High Court by a petitioner seeking directions from the court to the state of Himachal Pradesh to release water through Western Yamuna Canal

Don’t fall for propaganda! WhatsApp will not have to breach end-to-end-encryption to follow the new IT guidelines

We're all well aware that the Govt of India has recently notified the new Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021

Gujarat 2002: The iconic photo(s) that were never taken and the question of ‘victimhood’

How the 59 Karsevaks who were burnt alive were never the victims of violence for the 'liberals'

Recently Popular

US President Joe Biden casually drops the N-word during Munich Security Conference, accused of racism on social media

The N-word is considered as one of the hateful words that were first uttered in the 17th century. Its origin can be traced back to the Spanish word 'negro', which is often used by white supremacists to deliberately offend the African-American community.

‘Inserted her hand claiming she was planting a tree’: LGBT activist Divya Dureja accused of sexual assault under pretext of shamanic ritual

A popular LGBT activist Divya Dureja has been accused of sexual assault by Elodie Gendron under pretext of a Shamanic ritual.

‘I’m Akhlaq you killed for one cow’: Islamic terror outfit Jaish-ul-Hind claims responsibility for placing bombs outside Mukesh Ambani’s residence

In the threat message that is addressed to the Ambanis, the Jaish-Ul-Hind terrorists said, "Next time the SUV will ram into your fat kids car you if don't agree to the demands now".

Gujarat: Ahmedabad woman Ayesha commits suicide by jumping into Sabarmati River, last video message goes viral

A video has gone viral on social media where Ayesha, a young woman, can be heard announcing her decision to commit suicide.

“A contest between my ball and your ball”: Netizens in splits after comments of Harsha Bhogle go viral

Harsha Bhohgle said that a cricket contest should be between bat and ball, not between bat and bat or ball and ball

Father of Richa Bharti, the girl who had refused to distribute Quran to secure bail, shot dead in native Bihar village: Read details

The father of the daring Bihar girl Richa Bharti has been shot down by assailants in her native village of Nalanda district in Bihar.
- Advertisement -

 

Connect with us

253,147FansLike
521,258FollowersFollow
23,800SubscribersSubscribe