Swedish pension funds are investing in companies supporting the Myanmar military

A new review by the Swedish Burma Committee, Justice For Myanmar and Fair Finance Guide reveals that Sweden’s national pension funds AP1, AP2, AP3, AP4 and AP7 have invested over US$484 million in 12 companies linked to Myanmar’s illegal military junta.

Despite nearly five years of escalating Myanmar military junta atrocities, airstrikes on civilians, mass displacement, systematic repression and a deepening humanitarian crisis, Swedish public pension money continues to flow into companies that sell weapons, enable surveillance or provide a source of funds for the military.

AP7 is the biggest investor in these dirty companies.

The review highlights three categories of support to the military from Swedish pension fund investees.

Weapons: Indian companies Bharat Electronics and Hindustan Aeronautics have supplied arms and equipment to the military.

Surveillance: Japanese companies KDDI and Sumitomo partnered with junta-controlled MPT, in whose data centres the junta has installed a commercialised version of China’s Great Firewall to track, arrest and target activists and journalists.

Oil & Gas revenues: Thailand’s PTT and PTTEP and Indian company GAIL are part of offshore gas projects with junta that provide a key financial lifeline and fund its terror campaign.

These companies play a role in enabling the military’s commission of international crimes that it commits with total impunity.

We call on AP Funds to use their leverage to ensure companies cut ties with the junta. If companies refuse, the funds must divest to avoid complicity in grave human rights violations.

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