University of California Regents Urged to Divest from Sudan

SAN DIEGO - Students and activists are pressuring the University of California (UC) Regents to cut the flow of money to a regime that is committing genocide.

Since February of 2003, more than 400,000 Darfurian civilians have been murdered in Sudan's military campaign against its own people. Nearly 2.5 million people have been displaced due to violence; more than three million suffer from hunger and face constant threats of rape, assault, and death.

Direct foreign investment is funding the genocide.

The UC Sudan Divestment Taskforce, a group of students with the support of UC affiliates, government officials and community leaders, is calling for social responsibility.

"The University of California has at least $100 million of its foreign investment tied up in companies operating in Sudan. Students, faculty, and staff do not want the investments pool that serves us and this community to facilitate government-sponsored genocide," said Adam Sterling, Co-Chair of the UC Sudan Divestment Taskforce, at a UCLA press conference last week. "We, as taxpayers of California, are passively condoning that genocide if we don't take action."

"What is taking place in Darfur, Sudan is nothing short of government-sponsored genocide," said California Assemblyman Tim Leslie, who serves as Vice-Chair of the California State Assembly Committee on Higher Education. "By divesting from the Sudan, we are sending a clear message that California will not tolerate the cruel practices of this oppressive government."

Those pushing for the divestment hope that companies in Sudan threatened with divestment will directly pressure the Sudanese government to end the genocide.

According to UC spokesman Trey Davis, the regents generally make investment decisions solely on the basis of financial and market criteria.

A decision by the UC regents to divest would represent a fundamental shift in the way the foreign investments are assessed, making human rights a priority. The divestment trend, already developing among state governments, could have an even greater impact if adopted by foreign governments and multinational corporations and businesses.

According to a statement issued by the UC Sudan Divestment Taskforce, New Jersey, Illinois and Oregon have already approved divestment plans. Sudan divestment legislation is currently pending in Massachusetts, Ohio, New York, North Carolina, Indiana, Texas, and Vermont.

Several states, including Missouri, Louisiana, Tennessee, Pennsylvania, and Arizona have passed or are considering rules requiring regular reports on how state funds are linked to terrorist states. California, Wisconsin, Oklahoma, Kentucky and Rhode Island have active divestment movements with varying levels of involvement from state officials.

Last year Harvard decided to divest its direct holdings in PetroChina Company Ltd., a Beijing-based oil firm doing business in Sudan. Other universities, including Stanford, Dartmouth and Samford, have also enacted restrictions on investments in Sudan. In addition to the campaign at the University of California, emerging or active Sudan divestment campaigns are underway at Yale, Amherst, Brown, Columbia, Georgetown, University of Virginia, and several other colleges and universities.

The proposal for the University of California to divest in Sudan was first presented by Regent Adam Rosenthal at the regents' meeting in November 2005. At that time, the Board directed the Office of the UC President to explore options of possible divestment and report back to the regents in January.

Last week at the University of California, San Diego, the UC Board of Regents voted to tell their foreign investments fund managers that it has strong concerns about University dollars being invested in companies that do business in Sudan, when such investments make it possible for the Sudanese government to continue acts of genocide in Darfur.

"The Regents' action to formally notify their external fund managers about their concerns about the investment of University funds in these companies represents a strong measure for putting the University on record in opposition to the acts of genocide and violence in Sudan, while maintaining the Regents' fiduciary obligations to the beneficiaries of the University's pension and endowment funds," stated Gerald L. Parsky, Chairman of the Board of Regents.

"[The] vote represents an historic moment in the nationwide movement for Sudan divestment and an important first step toward total UC divestment from targeted companies," said Sterling. "We will, however, be back in March."

More than 40 individuals and organizations support UC divestment in Sudan, including Federal, State, and local officials, community and religious leaders. The complete list of endorsements is available at www.ucdivestsudan.com.