Mass. considers economic rebuke to Sudan
Jason Millman
Issue date: 11/30/05 Section: News
Massachusetts lawmakers made an international statement last week when they suggested banning the state pension board from investing in companies conducting business in conflict-ridden Sudan.
An estimated 400,000 civilians in Sudan have been killed since February 2003, when a government-sponsored militia, the Janjaweed, began massacring civilians in the Darfur region, which the government deemed disloyal to Sudan, according to the Save Darfur Coalition.
Massachusetts is following the lead of New Jersey and Illinois, two other states that have already passed legislation to divest money in Sudan after President George W. Bush labeled the atrocities in Sudan as genocide. Harvard University, Stanford University and Dartmouth College have all taken steps to divest in companies doing business in Sudan.
The bill, written by Sen. Andrea Nuciforo, Jr. (D-North Adams), is designed to draw attention to the crisis and sever business ties that might assist the Sudanese government in funding the genocide.
"The ongoing genocide in Sudan is a humanitarian crisis that has affected millions of people," Nuciforo said in a press release. "One way in which the Commonwealth can have an impact is to ensure that state pension funds are not contributing, in any way, to this tragedy."
The bill calls for the state pension board to sell any stocks or securities of companies that are engaged in business with the Sudanese government. The Pension Reserves Investment Management Board, or PRIM, which is a pooled investment fund of the assets of retired teachers and retired state employees, is responsible for trying to maximize the return on their investments to provide the highest possible pension.
According to Andrew Schuyler, Nucifro's chief of staff, the senator wants to ensure that the pensions of state employees will be protected but feels that Massachusetts has a moral obligation to shun the genocide.
"The senator wants to ensure that state employees would like to see their investments working financially and also in a way that represents our values," Schuyler said.
An estimated 400,000 civilians in Sudan have been killed since February 2003, when a government-sponsored militia, the Janjaweed, began massacring civilians in the Darfur region, which the government deemed disloyal to Sudan, according to the Save Darfur Coalition.
Massachusetts is following the lead of New Jersey and Illinois, two other states that have already passed legislation to divest money in Sudan after President George W. Bush labeled the atrocities in Sudan as genocide. Harvard University, Stanford University and Dartmouth College have all taken steps to divest in companies doing business in Sudan.
The bill, written by Sen. Andrea Nuciforo, Jr. (D-North Adams), is designed to draw attention to the crisis and sever business ties that might assist the Sudanese government in funding the genocide.
"The ongoing genocide in Sudan is a humanitarian crisis that has affected millions of people," Nuciforo said in a press release. "One way in which the Commonwealth can have an impact is to ensure that state pension funds are not contributing, in any way, to this tragedy."
The bill calls for the state pension board to sell any stocks or securities of companies that are engaged in business with the Sudanese government. The Pension Reserves Investment Management Board, or PRIM, which is a pooled investment fund of the assets of retired teachers and retired state employees, is responsible for trying to maximize the return on their investments to provide the highest possible pension.
According to Andrew Schuyler, Nucifro's chief of staff, the senator wants to ensure that the pensions of state employees will be protected but feels that Massachusetts has a moral obligation to shun the genocide.
"The senator wants to ensure that state employees would like to see their investments working financially and also in a way that represents our values," Schuyler said.