Hansae Yes24 Holdings Co Ltd
16450
1
exclusion reason
1 theme
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Hansae Yes24 Holdings Co Ltd, through its subsidiary Hansae Co Ltd, operates garment manufacturing facilities in Myanmar. The Council on Ethics for the Norwegian Government Pension Fund Global (GPFG) recommended the company's exclusion in May 2017 due to its operations in Myanmar, citing the risk of contributing to human rights violations in a country where the military has been implicated in severe abuses. The Council's annual observation report from February 2019 indicates continued monitoring of the company's activities in this context. While the company publishes annual ESG reports detailing its sustainability initiatives, the core business activity of operating production facilities in a country under military control since the 2021 coup constitutes material support to activities in a disputed territory, as assessed by the GPFG's ethical guidelines.
Research Sources
1 organization
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Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
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