Tell Fidelity to
divest ALL of its shares from PetroChina Co. and Sinopec Corp.
Fidelity Investments won accolades for divesting 91 percent of its
New York Stock Exchange holdings in PetroChina and 99 percent of its
holdings in Sinopec, two Chinese oil companies that are fueling the
genocide in Darfur. This was in no small part due to the work of
activists like you who pressured Fidelity to stop investing in
targeted companies that do business with Sudan. Congratulations,
and please keep up the pressure!
However, these seemingly positive headlines hide important facts
about Fidelity’s holdings in these companies. In fact, Fidelity
holds the majority of its PetroChina and Sinopec stock on the Hong
Kong Stock Exchange where it still owns $834 million in PetroChina
and an estimated $200 million in Sinopec.
Take action!
Send an immediate e-mail to Fidelity through our
Legislative Action Center, and call Fidelity at 617-563-7000 or
toll-free outside the Boston area at 800-343-3548 and ask for their
“executive office.”
Talking points for e-mail
While I am heartened by Fidelity’s initial steps to divest
from PetroChina Co. and Sinopec Corp., I urge you to divest ALL of
your holdings in these companies.
Fidelity’s continued investments in these companies are
providing precious funds to the Sudanese government to continue its
horrifying genocide of the Darfurian people. Moreover, your
still-substantial holdings in these companies are sending a message
to Sudanese President Omar al-Bashir that Americans are willing to
fund his genocidal campaign. Before any more people in Darfur are
killed, raped, or forced to flee to insecure refugee camps, Fidelity
should sell its remaining PetroChina and Sinopec shares on the New
York Stock Exchange and divest all its holdings on the Hong Kong
Stock Exchange.
I also urge you to make a moral statement by formally
adopting a public policy against investing in companies that support
genocide in Darfur.
Sample script for phone calls
If you are not a Fidelity investor, here’s a sample script:
“I am calling to tell you that while I was heartened by Fidelity’s
initial steps to divest from PetroChina and Sinopec, I urge you to
divest ALL of your holdings in these companies. Fidelity’s
continued investments in these companies are providing precious
funds to enable the Sudanese government to continue its horrifying
genocide of the Darfurian people. Fidelity’s actions will have a
negative impact on whether I choose to do business with Fidelity in
the future.”
If you are a Fidelity investor, you’ll be asked for your
account number or social security number to register your comments.
Here’s a sample script:
“I am a Fidelity investor and, while I was heartened by Fidelity’s
initial steps to divest from Petrochina and Sinopec, I urge you to
divest ALL of your holdings in these companies. Fidelity’s
continued investments in these companies are providing precious
funds to the Sudanese government to continue its horrifying genocide
of the Darfurian people. I am so concerned and disappointed that I
am considering moving my money out of Fidelity.”
Background
Read a letter to the editor in the
Boston Globe from UUSC President Charlie Clements.
See also
“UUA pressures Fidelity over Sudanese investments.”
Posted May 21, 2007
