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U.S. Mutual Fund Backs Divestment From Sudan

HeadlineMar 24, 2006

In news on Sudan–for the first time a U.S. mutual fund firm is backing a campaign to divest from companies doing business in Sudan because of the government’s role in the genocide in the Darfur region. The mutual fund, Citizens Advisers, said it will ask every company within its portfolio to review and divest from investments in Sudan. According to the Sudan Divestment Campaign, U.S. public pension funds have about $91 billion invested in companies with business activities in Sudan. Meanwhile Harvard University announced on Thursday it was divesting from the Chinese oil company Sinopec because it does work in Sudan. Students at Harvard are now pressuring the school to divest from all companies working with the Sudanese government–a move taken last week by the University of California after a student campaign there.

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