Kodos
04-09-2008, 02:37 PM
hxxp://www.savedarfur.org/newsroom/releases/protesters_demand_fidelity_stop_investing_in_darfur_genocide/
I guess this article is almost a year old now, but I missed it at the time. Anyhow, I got some proxy materials from Fidelity recently and they still advise us to vote for allowing continued investment in Sudan. But I decided to go against their wonderful recommendation and voted to not allow it.
PROTESTERS DEMAND FIDELITY STOP INVESTING IN DARFUR GENOCIDE
Wall Street Action Calls for Divestment from PetroChina and Sinopec
New York, NY –Hundreds of Save Darfur Coalition activists flooded the Wall Street area, calling on Fidelity Investments to divest their funds from Sudan-related investments. Fidelity Investments is the largest holder on the New York Stock Exchange of PetroChina (PTR), a Chinese oil company that, through its parent company, is considered one of the highest offenders in helping to fund the genocide in Darfur.
The Chinese oil industry funds the Sudanese government: approximately 70 percent of Sudan’s oil revenue goes to the military which, along with the Janjaweed militia, is perpetrating the genocide in Darfur. Since the genocide began in 2003, as many as 400,000 men, women and children have died as a direct result of the Sudanese government’s brutal campaign. Over 2.5 million people have been forced to flee their homes.
“The years of killing and devastation add up, yet companies like Fidelity won’t put two and two together: investments in PetroChina support the Darfur Genocide,” said Yahya Osman, Darfuri refugee and co-founder of the Darfur Rehabilitation Project. Yahya just returned to the U.S. after bringing aid to Darfuri refugees in Chad. “Fidelity should know, as long as it invests in PetroChina, its balance sheet is written with the blood of my countrymen.”
Hundreds of activists from all over the New York City area participated in the action, including students from Brooklyn College, Yeshiva University, Queensborough Community College, and other colleges and high schools; people of faith; community leaders; and grandparents. This event was one of more than 382 events in 273 cities in the U.S.—with more taking place around the world—as part of Global Days for Darfur, a week-long effort to highlight the ever-escalating violence and the continued failure of the international community to stop this crisis.
“Fidelity should stop funding human suffering and atrocities. Profiting from these crimes against humanity is wrong and unconscionable,” said New York City Council Member Eric Gioia. Gioia is calling on New Yorkers to be aware of their investments; companies like Fidelity use their assets to sponsor the Sudanese military and their brutal genocide in the Darfur region. “We need to take a stand against the murderous Sudanese regime and their financiers. For too long, the world has stood idly by as atrocities were perpetrated.”
“We have a responsibility to do all we can to stop the atrocities that are occurring in the Sudan,” said New York City Council Member David Yassky. “I join Save Darfur today to ask Fidelity to work with universities and local governments to take proactive steps toward ending this genocide through financial divestment."
“It is unacceptable that people’s investments are being used to fund murder and devastation in Darfur. Fidelity has a responsibility to divest from companies, such as PetroChina, that are helping to finance the genocide,” said Ruth Messinger, president of American Jewish World Service.
“The Jewish Council for Public Affairs believes that morality is not something that stops at the doors of business in America,” said Steve Gutow, JCPA executive director. “We believe divestment is an effective strategy to help end this horrific genocide in Darfur and we urge every American financial institution to join so many American states, municipalities and educational institutions to embrace this strategy in teaching Sudan that its reprehensible conduct must not continue.”
I guess this article is almost a year old now, but I missed it at the time. Anyhow, I got some proxy materials from Fidelity recently and they still advise us to vote for allowing continued investment in Sudan. But I decided to go against their wonderful recommendation and voted to not allow it.
PROTESTERS DEMAND FIDELITY STOP INVESTING IN DARFUR GENOCIDE
Wall Street Action Calls for Divestment from PetroChina and Sinopec
New York, NY –Hundreds of Save Darfur Coalition activists flooded the Wall Street area, calling on Fidelity Investments to divest their funds from Sudan-related investments. Fidelity Investments is the largest holder on the New York Stock Exchange of PetroChina (PTR), a Chinese oil company that, through its parent company, is considered one of the highest offenders in helping to fund the genocide in Darfur.
The Chinese oil industry funds the Sudanese government: approximately 70 percent of Sudan’s oil revenue goes to the military which, along with the Janjaweed militia, is perpetrating the genocide in Darfur. Since the genocide began in 2003, as many as 400,000 men, women and children have died as a direct result of the Sudanese government’s brutal campaign. Over 2.5 million people have been forced to flee their homes.
“The years of killing and devastation add up, yet companies like Fidelity won’t put two and two together: investments in PetroChina support the Darfur Genocide,” said Yahya Osman, Darfuri refugee and co-founder of the Darfur Rehabilitation Project. Yahya just returned to the U.S. after bringing aid to Darfuri refugees in Chad. “Fidelity should know, as long as it invests in PetroChina, its balance sheet is written with the blood of my countrymen.”
Hundreds of activists from all over the New York City area participated in the action, including students from Brooklyn College, Yeshiva University, Queensborough Community College, and other colleges and high schools; people of faith; community leaders; and grandparents. This event was one of more than 382 events in 273 cities in the U.S.—with more taking place around the world—as part of Global Days for Darfur, a week-long effort to highlight the ever-escalating violence and the continued failure of the international community to stop this crisis.
“Fidelity should stop funding human suffering and atrocities. Profiting from these crimes against humanity is wrong and unconscionable,” said New York City Council Member Eric Gioia. Gioia is calling on New Yorkers to be aware of their investments; companies like Fidelity use their assets to sponsor the Sudanese military and their brutal genocide in the Darfur region. “We need to take a stand against the murderous Sudanese regime and their financiers. For too long, the world has stood idly by as atrocities were perpetrated.”
“We have a responsibility to do all we can to stop the atrocities that are occurring in the Sudan,” said New York City Council Member David Yassky. “I join Save Darfur today to ask Fidelity to work with universities and local governments to take proactive steps toward ending this genocide through financial divestment."
“It is unacceptable that people’s investments are being used to fund murder and devastation in Darfur. Fidelity has a responsibility to divest from companies, such as PetroChina, that are helping to finance the genocide,” said Ruth Messinger, president of American Jewish World Service.
“The Jewish Council for Public Affairs believes that morality is not something that stops at the doors of business in America,” said Steve Gutow, JCPA executive director. “We believe divestment is an effective strategy to help end this horrific genocide in Darfur and we urge every American financial institution to join so many American states, municipalities and educational institutions to embrace this strategy in teaching Sudan that its reprehensible conduct must not continue.”