"Final Statement – Complaint submitted by Justice for Myanmar against Nordic Aviation Capital", 2 February 2026

This final statement concludes NCP Denmark’s investigation of a complaint received on 5 June 2024, from the group of covert activists, Justice For Myanmar (JFM). The complaint was submitted against the aircraft leasing company Nordic Aviation Capital (NAC) and related to NAC’s business relationships in Myanmar…

Conclusions on NAC’s approach to responsible business conduct NCP Denmark concludes that NAC was expected to conduct risk-based due diligence for responsible business conduct (RBC) on their downstream business relationships, including lessees and buyers in Myanmar such as Air KBZ. NCP Denmark also finds that although NAC had conducted customer and transactional due diligence, NAC did not demonstrate, neither in its policies nor its practices, that it had identified and addressed actual and potential adverse impacts on people, the environment and society associated with its own operations and business relationships…

NCP Denmark has also examined the context of doing business in Myanmar from 2013 to 2024 and finds that NAC did not sufficiently react to contextual developments when operating in an area of armed conflict such as Myanmar. Consequently, NCP Denmark finds that NAC did not observe the expectations in the Guidelines to carry out human rights due diligence as appropriate to the severity of the risks of adverse human rights impacts in Myanmar.

Additionally, NCP Denmark has examined the measures taken by NAC to prevent adverse impacts linked to ATR-aircraft financed, sold and leased to buyers in Myanmar. NCP Denmark finds that NAC did not, in relation to the business relationship with Air KBZ, sufficiently observe the recommendation to prevent or mitigate adverse human rights impacts that are directly linked to their business operations, products or services by a business relationship, even if the enterprise does not contribute to those impacts.

General recommendations…

1. NCP Denmark recommends enterprises to consult the OECD Due Diligence Guidance for Responsible Business Conduct (2018) for support and practical advice to implement risk-based due diligence for RBC and to understand, that due diligence for RBC focuses on identifying, preventing, and mitigating adverse impacts on people, the environment, and society, while customer and transactional due diligence assess risks to the enterprise itself, such as financial, reputational, or operational risks.
2. NCP Denmark highlights that where adverse impacts are directly linked to an enterprise’s operations, products or services, the enterprise should seek to use its leverage to effect change…
3. NCP Denmark emphasizes that enterprises operating in areas of armed conflict are expected to carry out enhanced due diligence to address the heightened risks of adverse impacts on human rights and society. NCP Denmark recommends that enterprises operating in Myanmar pay special attention to adverse impacts on human rights in their risk-based due diligence for RBC…