Posco's Myanmar energy ties flying under ESG radar

Andrews: Companies must make sure their operations don’t directly benefit the junta in Myanmar. — AP

YANGON: Posco International Corp is one of the last foreign companies with a significant stake in Myanmar’s oil and gas sector, despite the industry’s ties to a military regime that has been widely condemned for violations of human rights.

The South Korean company also retains a holding in nearly a dozen environmental, social and governance (ESG) focused funds, including those run by BlackRock Inc, State Street Corp and Samsung Asset Management Co, according to Bloomberg data on the latest available filings.