Danish pension fund AkademikerPension is pulling its more than $3m investment in low-cost airline Wizz Air over concerns around human and labour rights abuse.
AkademikerPension said the was made after the carrier’s management failed to reassure investors about the legality of their labour and human rights practices.
“The management’s behaviour conflicts with human and labour rights as outlined by, among others, the UN guiding principles on business and human rights,” said fund chief executive Jens Munch Holst.
“The risk of being linked to a clear and persistent breach of our responsible investment policy is simply too high if we remain invested. “Exclusion is the last tool in our toolbox. If we are not ready to use it, we have no leverage when as an investor we try to influence companies to change course in these kinds of cases.”
Investigations into the Budapest-based carrier highlighted how the company has refused to recognise the right to unionise, dismissing staff because of their union affiliation, according to AkademikerPension.
