Print Version-Capuano Calls on Pension Boards to Divest From Sudan
Congressman Capuano Calls on Pension Boards to Divest From Sudan
April 12, 2005
Today Congressman Mike Capuano asked the 106 public pension boards in Massachusetts to review their investment portfolios and divest from any companies doing business in Sudan.
"Hundreds of thousands of innocent people have been slaughtered in Sudan and millions more driven from their homes. Congress and the President have called what is happening by its correct name: genocide. The atrocities committed there are occurring with the full knowledge of the Sudanese government - a government that remains defiant in the face of almost universal moral outrage", stated Congressman Mike Capuano.
The United States and other nations have imposed sanctions on Sudan but, thus far, these sanctions have done nothing to stop the bloodshed. Sudan can ignore these actions in part because many entities are still investing in companies with ties to Sudan. Recently, Harvard University announced that it was selling its shares of PetroChina because of that company's ties to the Sudanese government.
"I urge you to do your part in depriving this regime of the funds they use to terrorize and slaughter the people of Darfur. United States public pension funds have $91 billion in equity invested in companies doing business in Sudan," wrote Congressman Capuano. Some of the major stocks include Siemens AG, Alcatel SA, ABB Ltd, Tatneft and PetroChina.
"Congress has appropriated funds to provide humanitarian relief and to support African Union forces on the ground but the slaughter in Darfur continues unabated. I hope you will join the fight to stop the genocide by eliminating any investments you have in these companies as quickly as possible," wrote Congressman Capuano.
Contact: Alison M. Mills (617) 621-6208