8 years ago the Darfur genocide in the Sudan started. Since that time there has been 2 movies, enough activist A-list Hollywood entertainers involved to almost create an awards show, a new President, 2 elections, and 4 Congressional elections. With all of that, and the numerous bloggers that I am proud to count myself among, the American government has succeeded in discussing the genocide everyone in the world knows is happening.
Congress has discussed HR 180 for several sessions now. They haven't moved forward to do anything, but they did talk about it a couple of times over the years. But to give our Government some credit, President Bush did send some funds to the region and President Obama mentioned it in 1 campaign speech.
Yet there is one company that has finally taken an actions that might get a result. It might even start a trend.
TIAA-CREF is the first, and as I am aware, the only major fund to divest from Asian energy companies that are involved with the Sudan. The companies they removed from thier portfolio are:
China's PetroChina Co Ltd
CNPC Hong Kong
Sinopec
Oil and Natural Gas Corp of New Delhi
Each of these companies values profits over the hundreds of thousands of lives their financial support allows to be killed. In fact the position of these companies can be understood from their response to the sale of a combined $60 million of their stocks.
"This will not impact our investment decision in Sudan," ONGC Chairman R.S. Sharma"
and
"[A] Sinopec spokesperson said: "Investors make rational judgments based on value. If some sell, others will buy."
Isn't that something. The lives of African men women and children has no impact on the business these men will continue to do. Because they are sure that more investors could care less about an African child's life than stepping on a piece of gum.
When anyone in the world equates a life to so many pennies a share, something wrong has happened. Imagine if it was your father, or sister, or family member. And someone said that if you buy a share of my stock it will make up for them being raped, mutilated, and then sometimes killed. Such a way of thinking makes me sick.
TIAA-CREFF deserves to be applauded. They spoke with these companies and asked them to put pressure on the Sudanese government to change what is happening. All but one company (Petronas Dagangan) did anything. Because, I assume, the other companies are taking their cue from world Governments including the U.S. Congress can't even pass one law in 8 years saying that this genocide is wrong, and U.S. companies won't contribute to this with their funds.
Still if one fund is willing to forgo the profit of these companies, others can too. Because there is always another energy company stock that's worth buying. In a country that isn't killing it's people, it's children.
Now if only Congress and the Obama Administration could step up and learn from TIAA-CREFF. If only they would listen to Don Cheadle and George Clooney (who I know has been to the White House).
Let's not wait another 8 years. Because if the people of Darfur are all killed before the Government does something, if you made money off the deaths of these people, imagine how you will be judged.
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