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May 13, 2011

Are your investments funding genocide?
  • Many financial institutions invest in PetroChina, a company which, through its parent, CNPC, provides Sudan's government with revenue that has been helping fund the Darfur genocide for years.   With a billion-dollar stake in PetroChina as of January 2011, JPMorgan Chase is one of its largest investors. 
  • On May 17, JPMorgan Chase shareholders have the opportunity to vote for genocide-free investing.  
  • The full text of the shareholder proposal, "Proposal 10 - Genocide-free investing" as listed in the proxy statement, is included at the bottom of this page.  The resolved clause of the proposal states:
    "Shareholders request that the Board institute transparent procedures to prevent holding investments in companies that, in management's judgment, substantially contribute to genocide or crimes against humanity, the most egregious violations of human rights. Management should encourage JPMorgan funds with separate boards to institute similar procedures."

    Investors Against Genocide is a citizen-led initiative, dedicated to convincing mutual funds and other investment firms to make an ongoing commitment to genocide-free investing.  We ask investment firms to change their investing strategy to avoid investments in companies which substantially contribute to genocide or crimes against humanity.
 
 
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