Published by Change.org.

by Corrie Hulse · 2010-12-06 06:27:00 -0800

“Millions of Americans are investing, unknowingly, inadvertently, and against their will, in companies funding genocide.”

Such was the testimony of Eric Cohen, co-founder and chairperson of Investors Against Genocide (IAG), at a congressional hearing last week in front of the House Financial Services Subcommittee on International Monetary Policy and Trade.

For many, it would seem like common sense: genocide is bad, don’t fund it. But the US currently has no framework in place for regulating whether citizens’ investments are funding genocide or other such crimes against humanity, and it is quite possible that your money has been or is currently being used to fund genocide.

Cohen and his organization are pushing for regulations that will encourage “genocide-free investing.”

Over the past few years, organizations such as Investors Against Genocide and Save Darfur have focused campaigns on convincing investors to divest from companies aiding or promoting genocide, in particular divesting from oil companies in Sudan that are intertwined in the north/south conflict as well as the genocide in Darfur.

The US has placed sanctions on Sudan, barring US investors from funding the Sudanese oil industry. Yet Fidelity, JP Morgan and Franklin Templeton, were recently discovered to have been investing in PetroChina, a Chinese company that has been working within the Sudanese oil industry. According to an article by Jonathan Holslag, a Research Fellow at the Institute of Contemporary China Studies, at 47%, China is the largest importer of Sudanese oil. In fact, China’s National Petroleum Corporation has spent more than $4 billion on oil and trade related matters in Sudan. Unlike the US, China has not sanctioned trade with Sudan.

According to Investors Against Genocide, US financial institutions have found that by investing in companies such as PetroChina, they can maneuver around the US sanctions. But if your financial institution is funding companies such as PetroChina, they are indirectly funding the oil industry in Sudan, and ultimately the genocide in Darfur.

In his testimony, Cohen called for a “Genocide-Free Investment Act,” a more expansive version of the Sudan Accountability and Divestment Act (SADA), which is focused specifically on divesting from Sudan. The newly proposed act would be directed at all current and future genocides. Investors Against Genocide is calling for the establishment transparency and disclosure requirements, and a deadline of two years for funds and trusts to decide whether or not they will become “genocide-free.”

American consumers are tired of unintentionally having blood on their hands. From blood diamonds to conflict minerals, Americans are increasingly demanding to know where their products are coming from and how their money is being used. Over the past couple of years, we have seen students demand that their schools go ‘conflict-free’ and organizations such as the Enough Project create entire campaigns around personal divestment from conflict.

How can you make sure your investments are “genocide-free”?

First, take a moment to make your voice heard and sign the petition below telling congress it is time for a “Genocide Free Investment Act”!

Second, check out this list of divested states and institutions. If yours is not on the list, perhaps it is time to find out why. With the help of Investors Against Genocide, you can submit a shareholder proposal to your investment institution asking them to divest their customers’ money from funds tied to genocide.