AkademikerPension (AP) has become the first large Danish pension company to exclude China when considering investing.
The company had 140,000 members and cited a dubious human rights record as the reason for divesting its shares in Chinese companies and government bonds.
“We have been observing China for a long time. It is well documented that the country systematically violates human rights, and we can no longer blindfold, ” said Jens Munch Holst, leader of the AP.
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Uyghurs and Hong Kong
More specifically, the AP has reviewed China’s legislative changes in Hong Kong as well as its harsh treatment of its Uighur minority group and political opposition.
AP, which changed its name from MP Pension earlier this month, stated that it expects to secure around DKK 400 million for the divestment of its Chinese assets.
“Our ambition is to strengthen our profile in terms of responsibility. Our motto is that dividends and responsibility go hand in hand, and it is therefore difficult to retain China in our portfolio, ”said Holst.