Warren Buffett is investing in a massive steel company that’s planning to force 22,0000 Indian villagers from their homes. Now, eight of the UN’s top human rights officials have called for an immediate halt to the project — and we need to make sure Buffett acts.
If this project goes ahead, thousands of acres of forest will be flattened, and tens of thousands of poor Indian villagers will lose their homes and livelihoods. The company behind this disaster is Posco Steel, a South Korean giant, in which Warren Buffett has invested more than $1 billion.
If Buffett uses his financial might, he can push Posco Steel to address the UN’s human rights concerns or stop the project. He claims to uphold the “highest levels” of business ethics — but still hasn’t spoken out.
It’s rare that eight of the UN’s most senior human rights experts all speak out like this — and it shows something is seriously wrong. And their message is clear: “The construction of [this] massive steel plant … must not proceed as planned.”
Posco Steel is busy claiming they are “highly sensitive” to the community’s human rights — all while preparing to boot them from their homes and destroy their subsistence lifestyles. But despite having one of the largest stakes in Posco Steel and a reputation as a progressive investor, Warren Buffett has stayed silent.
A wave of media stories in the Washington Post, the Guardian, ABC News, and Business Week have covered this impending disaster, but so far Buffett has avoided the heat. Now, we need to tell Buffet to stand up for his principles and demand that Posco Steel addresses these concerns or stops the project.
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Paul, Rob, and the rest of us.
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