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Myanmar Crisis

ESG investors push international firms to rethink Myanmar projects

India's Adani Group pulls out of port development, taking losses

Indian conglomerate Adani Group has announced it is selling a port project underway in Myanmar for just $30 million after coming under fire from activist investors.

YANGON/BANGKOK -- Pressure from investors concerned about environmental, social and corporate governance (ESG) issues, coupled with U.S. and European Union sanctions, is encouraging international companies to pull their cash out of Myanmar.

Indian conglomerate Adani Group announced the sale of a port project underway in Myanmar for just $30 million after critics said money from the project had been diverted to companies affiliated with Myanmar's military, which ousted the country's elected government in February 2021.

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