Yale cuts financial ties to genocide in Sudan

– CONTACT: Daniel Millenson,
– National Political Director
– Sudan Divestment Task Force
– Tel: (847) 436-2627

Feb 17, 2006 — Responding to Student Campaign, Yale Cuts Financial Ties to Genocide in Sudan
New Haven, CT -The Yale Corporation will divest from Sudanese government bonds and seven companies that support the Sudanese government’s ongoing genocide against civilians in the Darfur region, Yale President Richard Levin announced Wednesday. The decision came in response to a seven month campaign by Yale Students Taking Action Now: Darfur (STAND) and the Lowenstein Human Rights Clinic at Yale Law School.

“By eliminating its financial ties to the Sudanese government, Yale reaffirms its commitment as an ethical investor,” said Eric Bloom ?08, co-coordinator of STAND. “I’m proud to know that I’m a member of a community that is not profiting from the humanitarian crisis in Darfur.”

Members of STAND rallied support for divestment with an aggressive awareness campaign, gathering signatures from nearly 1500 students, over a quarter of the student body. “Students today are not apathetic. Given the opportunity, they will devote their time and energy to change a situation they view as morally untenable,” said Ida Assefa ?08, a member of Yale STAND. “People understand that the situation in Darfur is a moral outrage. The only thing they don’t understand is why the United States government hasn’t become a leader in efforts to end the genocide,” said Betny Townsend ?08, a member of Yale STAND.

Yale’s endowment is $12.7 billion, the second largest for an American university. The university’s divestment policy was designed to put maximum pressure on the Sudanese government while minimizing negative consequences to the civilian population. This revenue is then used by the government to purchase weapons and pay the Janjaweed, who are actively carrying out the genocide. Yale’s focused divestment strategy can serve as a model for other institutions looking to take similar action.

By divesting, Yale joins a growing national movement. Harvard, Stanford, Dartmouth, and Amherst have already divested their endowments from companies because of their activity in Sudan, and several other universities, including Brandeis, Brown, and Columbia are considering similar action. Illinois Oregon, and New Jersey have recently divested their state pension plans, while legislation is pending in several other states.

“This is a really important day, but there is still a lot to be done,” said Lauren Jacobson ?08, co-coordinator of STAND. “The focus now is how to translate the incredible momentum developed at Yale into more concrete measures that will fundamentally change United States and international policy. What is needed now is not just divestment, but aid and multilateral intervention. A NATO-led bridging force on the ground now could save thousands of lives until UN peacekeepers take over.”

– For more information on Yale’s divestment decision, visit http://acir.yale.edu/sudan.html.