Conservative Activists Demand Goldman Sachs Investigate Investments Funding Arm Of Chinese Nuclear Weapons And Munitions Companies
Date
4/28/2023 7:16:36 AM
(MENAFN- ValueWalk) Washington, D.C./Dallas, TX –
Today, Scott Shepard – director of the national center for public policy research 's Free Enterprise Project (FEP) – presents a proposal at the Goldman Sachs annual shareholder meeting that, if approved, requires the company's board of directors to conduct and publish a third-party review of the company's investment in Chinese businesses.
Goldman Sachs Invests In Chinese Companies That supply Munitions
goldman sachs , through its Emerging Markets Equity exchange-traded fund (the GEM ETF), has hundreds of millions of dollars in assets under management that effectively fund the Chinese Communist Party's (CCP) oppressive military companies.
Those investments include a subsidiary of the China National Nuclear Corporation (CNNC), which oversees China's nuclear weapons program and was at one point designated as a Communist Chinese military company by the Pentagon.
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“Through its GEM ETF, Goldman Sachs invests in companies that supply munitions, including landing craft being used right now to prepare for an invasion of Taiwan. It also invests in a subsidiary of the company that designs and builds the nuclear weapons aimed at the United States,” said Shepard.“
Somehow, Goldman thinks it didn't have a legal or moral duty to disclose these facts to investors. Today, Goldman reveals itself as profoundly careless and unwise – and recklessly unpatriotic. Someone should explain to Goldman's executives that Chinese nuclear strikes won't aim around the neighborhoods of self-regarding billionaires, no matter how much the company kowtows.”
The proposal, if approved by Goldman Sachs shareholders, requires the board of directors to commission and publish a third-party review to determine whether the company's china-focused etfs align with its commitments – including its Statement on Human Rights and its Statement on Modern Slavery and Human Trafficking.
Goldman Sachs' annual shareholder meeting will be held on Wednesday, April 26 at 9:30 AM ET in Dallas, Texas. The meeting can be accessed via an audio webcast .
View FEP's Proposal 7 on page 83 of the goldman sachs' proxy statement .
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