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Danish pension fund axes €54 million in China over human rights violations

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CEO of AkademikerPension Jens Munch Holst
CEO of AkademikerPension Jens Munch Holst

By Choekyi Lhamo                  

DHARAMSHALA, Sept 29: A pension fund named AkademikerPension in Denmark has announced that it decided to divest investments worth €54 million in China over human rights violations on Friday. The CEO Jens Munch Holst referred to China’s current security law for Hong Kong, forced detention of over a million Uyghur Muslims in “re-education” camps, and China’s use of the death penalty, persecution of minorities and political opponents as reasons for the divestment.

The announcement stated that it will get rid of both Chinese equities and government bonds by the year-end, “We have been watching China for a long time. It is well known that the country systematically violates human rights, and we can no longer turn a blind eye to it.”

Holst further remarked that China was under deliberation during the executive meetings since the last 12 months, “The situation in the last 12 months has deteriorated even further. It is a well-known fact that China systematically suppresses dissenting voices and violates human rights. We can no longer neglect their gross iniquities.”

He noted that the firm’s intention has always been to raise questions of accountability which makes it difficult to argue in favour of China. AkademikerPension has so far excluded 36 countries including Saudi Arabia and Iran as it revises its list once a year, but China was excluded outside of its regular schedule as an exception.

Holst further noted that the firm’s most important task is to ensure that the members received good pensions but “we also take a social responsibility, and that is in the context in which our China divestment must be seen.” The pension scheme for Danish academics has excluded China from its investment universe, claiming to be the first Danish pension fund to do so.

2 Responses

  1. Great! All pension funds and mutual funds should stop investing in China. Investing in China is making the corrupt Chinese Communist Party dictatorship rich & powerful. Stand up for human rights & resist China.

  2. well done! It opens everyone’s eyes to know where things are going wrong. Take action so that the leaders of rogue countries stop violating human rights and start going by the rule of international law.

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