Thursday, May 10, 2007

Save Darfur Coalition and Fidelity

From a May 10, 2007 Boston Globe report:
"Divestment dilemma" —

The mutual funds giant [Fidelity] said it recently convinced CNN and Newsweek to change their minds about running ads sponsored by The Save Darfur Coalition. The group endorses divestment from certain foreign companies doing business in Sudan, to push the Sudanese government into ending the brutal conflict and humanitarian crisis in Darfur.

Their new campaign specifically targets Fidelity, which has $1.3 billion invested in PetroChinaCo. Ltd. of Beijing. PetroChina's parent -- China National Petroleum -- is Sudan's largest partner in the oil industry.
"Instead of returning our calls, our e-mails and our letters, Fidelity has apparently resorted to back-door interference to prevent us from spreading our message," said Allyn Brooks-LaSure of The Save Darfur Coalition.

Here is the ad:

The Save Darfur Coalition

Update: as of May 17, 2007 from a China Economic Review report:
"Fidelity cuts PetroChina shareholding" —

The world's leading mutual fund company, Fidelity Investments, reduced its stake in PetroChina by 91% in the first quarter, following pressure by human rights groups over the Chinese oil firm's activities in Sudan.


Post a Comment