Coast Capital Demands TotalEnergies Pull Out of Myanmar Oil and Gas Enterprise
NEW YORK--(BUSINESS WIRE)--Coast Capital calls on TotalEnergies, a French multinational integrated oil and gas company of which Coast Capital is a shareholder, to immediately discontinue its partnership with the Myanmar Oil and Gas Enterprise (MOGE), which is directly financing the current military dictatorship’s ongoing acts of crimes against humanity.
Coast Capital is making this significant request to a portfolio company based on the following reasons:
Since Myanmar’s military junta came to power through a coup in February 2021, the State Administrative Council (SAC) has used excessive and lethal force against protestors, and have used military assault weapons, mortars, and grenades against peaceful protestors. Human Rights Watch has reported at least 1,000 deaths (including 75 children, some as young as 5 years old), and believes that many more thousands of activists, journalists, civil servants, and dissidents are being held in jail, an unchallenged violation of their basic legal and human rights.
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