Tuesday, May 29, 2007
Finally Fidelity...Now Who?
Well, Fidelity finally decided to divest out of dealings with Sudan. I must extend to them my applause as it is a great first step for the major investment company. Hopefully, other major companies will take a page out of Fidelity's book and divest more from companies who have their hands in Darfur. Now that we have gotten Fidelity to divest, who should we focus our attention on now? It has recently come to my attention that the University of Chicago is refusing to divest out of PetroChina, citing "the protection of academic freedom". Aside from pressuring the US government itself, perhaps we should focus on universities. The University of Chicago is an elite university, and what sort of example does that set for the rest of the academic world if they don't divest? Universities hold just as many dealings as big companies do, so let's raise our voices to them. Many students are involved in the Darfur issue and urging their university to take their dealings out of any company that funds the genocidal government of Sudan is certainly something many students would rally behind. So, in conclusion, be a conscience citizen or student and urge your local university to divest.
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Fidelity has hardly divested all of its holdings. It still has a massive holding of H shares in PetroChina. See http://fidelityoutofsudan.com/fidelity%27smay15secfiling
for more details and the continuing campaign.
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