US Iowa divests assets from firms working in Sudan
April 7, 2007 (Des Moines, Iowa) – US Iowa governor inked yesterday a legislation requiring to divest assets from companies facilitating “genocide in the Darfur region of Sudan”. The bill was adopted by the two chambers.
Iowa Governor Chet Culver on Friday April 6 signed a targeted divestment bill requiring the state to divest from companies that support the government of Sudan, which has been accused of genocide by the United States Government.
The bill passed the House with overwhelming support and passed the Senate with unanimous consent late last month.
Human rights groups accuse the Sudanese government of committing atrocities during a civil war that has killed an estimated 200-thousand people. U.S. government has taken such action while a massacre was still occurring. To date, over 2.5 million have been displaced. Recently, former United Nations Undersecretary Jan Egeland stated, “It’s going from real bad to catastrophic in Darfur.”
The government of Sudan relies heavily on foreign investment to fund its military, making divestment an effective strategic move against the crisis. In addition, Sudan has historically responded to economic pressure.
The bill’s targeted approach will maximize the impact of divestment on the Sudanese government while minimizing potential harm to both innocent Sudanese civilians and investment returns.
“Genocide should never be tolerated and the State of Iowa should not directly or indirectly be supporting the deadly campaign in Darfur,” said State Representative Dawn Pettengill of Mt. Auburn who sponsored and managed the bill in the Iowa House.
Iowa is the first state to pass divestment legislation in 2007, and the eighth state to divest overall. Eighteen other states are currently considering a targeted divestment model.
“We are thrilled that the state of Iowa is joining the nation-wide campaign to target specific companies known to support the genocide in Darfur, Sudan. Iowans should continue their success and make sure all the presidential candidates know that we will not stand by in the face of genocide,” state Mark Hanis, director of the Genocide Intervention Network.
(ST)