Abusing Myanmar for Australia's "Future"
November 29, 2021
Australia’s sovereign wealth fund, the Future Fund, is profiting from the Myanmar military’s brutal oppression and campaign of terror through its holdings.
Through a Freedom of Information request, Justice For Myanmar has revealed equity stakes collectively valued at AUD$157.9 million held by the Future Fund, across 14 publicly traded companies that maintain business links to the Myanmar military. These businesses have continued their activities following the illegal February 1 attempted military coup and stand complicit in the increasingly widespread and systematic atrocity crimes the Myanmar military continues to commit against the people of Myanmar. These companies either have a direct and longstanding commercial tie to the Myanmar military or its conglomerates through joint ventures and land leases, or sell arms and related equipment to the Myanmar military. Two of these companies have announced that they are ending their relationship with the Myanmar military, but have not yet done so. Through these ties, the Australian government is directly connected to the Myanmar military’s grave violations of human rights.
Justice For Myanmar calls on the Future Fund and all other institutional investors to immediately divest from those companies that continue to have ties with the Myanmar military, and companies that sell arms or dual use goods to Myanmar. We call on the Australian government to impose immediate targeted sanctions against the Myanmar military, their businesses and significant business associates, and to advocate for a global arms embargo.
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Abusing Myanmar for Australia’s “Future”