March 11, 2022
Response to Ukraine invasion poses ESG problems for foreign investors in country’s social media companies
China’s private technology groups, including Tencent, Sina Weibo and ByteDance, have been disseminating official misinformation about Russia’s invasion of Ukraine, posing difficult compliance issues for the companies’ foreign investors, the Financial Times reported.
The internet platforms of tech giants in China are promoting content backing Russian president Vladimir Putin’s attack on Ukraine while suppressing posts sympathetic to Kyiv, the story said. “The Chinese market is uninvestable from an ESG perspective,” said Félix Boudreault, managing director of Sustainable Market Strategies, an environmental, social and corporate governance (ESG) investment research group.
Full story: The Financial Times