Norwegian pension fund divests from Adani over Myanmar military ties

Norwegian pension fund KLP has divested from Adani Ports and Special Economic Zone (APSEZ), stating that the port operator’s business partnership with Myanmar’s armed forces risks breaching its “responsible investment” guidelines.

Adani has a business partnership with the military-owned conglomerate Myanmar Economic Corporation (MEC) for the construction of a new container port in the city of Yangon.

This port is being built on land owned by the armed forces (Tatmadaw), which has been leased from MEC for a period of 50 years.