Hong Kong Watch co-hosts ESG Report Launch Event in Washington DC
In June 2022, Hong Kong Watch and the International Republican Institute co-hosted an ESG Report Launch Event at the Reagan Events Centre in Washington DC. Johanna Kao, Asia Pacific Regional Director of the International Republican Institute, chaired the discussion panel. Together with Isaac Stone Fish, Founder and CEO of Strategy Risks, Kelley Currie, US Representative to the UN Commission on the Status of Women, Dennis Kwok, former Hong Kong Legislative Council Member, and Sam Goodman, Director of Policy and Advocacy of Hong Kong Watch, they discussed the issue of US pension funds being invested in Chinese companies linked to the human rights crisis in Xinjiang.
A new report by Hong Kong Watch, which was launched in Washington DC in June, has broken down the extensive holdings of US State Pension Funds, institutional investors and endowment funds in firms with ties either to Chinese government activities in Xinjiang or the Chinese military.
The report underlines the breadth of US investment in equities which have “troubling” records, showing that the vast majority of the investment is a result of passive investment strategies which fail to adequately factor human rights considerations into portfolios.
Particular focus is placed on ongoing investment in firms which have been placed on the US Entities List but not the investment ban Executive Order 14032. The executive summary of the report states:
“These firms carry significant ESG risks. Two firms which are widely held by US institutional investors are Zhejiang Dahua Technology and iFlytek. Both of these firms have been accused credibly of being involved in helping to construct the surveillance infrastructure and providing technology for the camps in Xinjiang, China, and therefore investment in these firms could lead to complicity with the Uyghur genocide.”
Click here to read the full report “Passively Supporting Oppression”.
Watch the report launch event here:
