It was good to receive a welcome email today via the International Trade Union Confederation and Committee Workers Capital. The Danish pension fund ATP, which every working person in the country has to pay into (3 million people in 2005 with assets around 50 billion EURO) - has just announced that it will dis-invest from all oil companies that deals directly with Myanmar Oil, including Total. As well as any other companies that fail to comply with EU sanctions. Apparently this is 100 million EURO of shares.
I can’t find any link to confirm yet but it seems genuine. Check out Tom at Labour & Capital who has been following the British “dirty 32” who have trading links with Burma.
My own personal blog. UNISON NEC member for Housing Associations & Charities, HA Convenor, London Regional Council Officer & Chair of its Labour Link Committee. Newham Cllr for West Ham Ward, Vice Chair of Local Authority Pension Fund Forum, Pension trustee, Housing & Safety Practitioner. Centre left and proud member of Labour movement family. Strictly no trolls please. Promoted by Luke Place on behalf of J.Gray, Newham Labour Group, St Luke’s Community Centre, E16 1HS.
Tuesday, October 23, 2007
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4 comments:
Hi John
could you send a copy of the email? can't find any info on the interweb
Tom
Hi Tom, just sent, sorry its late, NTL down the last 24 hrs – seen your post on Burma! Excellent
Cheers
John
Hi,
there's a news story in Danish here.
The piece says the decision came after criticism of ATP, and followed weeks of silence from ATP on the issue. The fund's investment in French Total is given as approximately 935 million Danish kroner, about 90 million pounds.
Hi Kellie
Still, Well done ATP and well done Denmark. I don't think any British pension fund has had to courage to make such a decision.
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