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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