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 Uighur 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.
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.
Speaking to the Guardian Laura Murphy, one of the report's authors said
“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,”
Read more at the Guardian.