ESG funds hold US$13.4 billion in companies that supply tech and weapons to Myanmar military

YANGON, March 11 (Bloomberg): Hundreds of ESG funds run by some of the world’s biggest money managers have a combined $13.4 billion stake in companies that supply weapons and technology to the Myanmar military, according to a report.

The funds, which say they take into account environmental, social and governance risks, have investments across 33 companies that the United Nations and two advocacy groups say provided weapons, communications and technologies to the military, Inclusive Development International and ALTSEAN-Burma said in a report released to the media.