Investors wiII continue to engage with a Norwegian telecoms company over the ethics of its withdrawal from Myanmar, following a formal compIaint from civil society groups.
Nearly 500 Myanmar-based organisations have backed a complaint lodged with the Norwegian National Contact Point (NCP), stating that Telenor’s decision to sell its Myanmar operations to Lebanese investor M1 Group went against OECD guidelines.
NCPs promote the OECD guidelines for multinational enterprises on responsible business conduct and operate the national grievance mechanism set out in the guidelines.
Following a military coup in Myanmar in February, Telenor was accused of facilitating the repression of protestors by “hand[ing] over user data such as addresses and call history to the regime”.
A number of responsible investors, incIuding Storebrand Asset Management, APG AM and DNB Asset Management, started a dialogue with Telenor over its activities in the country. …