Adani Ports and Special Economic Zone Limited
ADANIPORTS
2
exclusion reasons
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.
Adani Ports and Special Economic Zone Limited (APSEZ) operates a container terminal in Yangon, Myanmar, through a lease agreement with the military-controlled Myanmar Economic Corporation (MEC). The MEC is a conglomerate owned by the Myanmar military, which has been engaged in an armed conflict with ethnic groups and is the subject of international sanctions following its 2021 coup. Revenue from the terminal flows to the military junta, providing material support to a regime accused of widespread human rights abuses.
The company’s links to the Myanmar military were cited as the grounds for exclusion by Norway’s sovereign wealth fund (NBIM) in May 2024 and by the Norwegian pension fund KLP in June 2021. KLP’s assessment concluded the company’s presence in Myanmar represented an unacceptable risk of contributing to human rights violations in an active conflict zone. The terminal operation does not meet the affirmative defense for essential civilian services; it is a commercial port venture that partners with and enriches the military junta.
Adani Ports and Special Economic Zone Limited operates the Haifa Port in Israel, a strategic asset acquired in 2022 for $1.15 billion. The port is located in Haifa, Israel. The company's operations in Israel have drawn scrutiny from investors concerned with activities in occupied territories. Norges Bank Investment Management (NBIM) excluded Adani Ports from its portfolio in 2023, citing the company's business ties in Israel. The exclusion was based on an assessment that the company's operations contributed to violations of international humanitarian law in the occupied Palestinian territories.
Research Sources
1 organization
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