US Colorado to move $42 mln in pension funds in Sudan divestment
September 21, 2007 (DENVER) — Colorado plans to move $42 million (A29.9 million) in state pension funds in an effort to send a message to Sudan that the killings in Darfur must stop.
Colorado lawmakers passed a law earlier this year requiring pension funds to maintain a list of companies that either directly or indirectly help the Sudanese government. The pension funds are required to divest from companies that do not change their business practices in Sudan.
“More and more states are joining our effort to bring the horror of Darfur to an end,” said state House Speaker Andrew Romanoff, who sponsored the law.
Since the passage of Colorado’s divestment legislation, 12 states have passed similar laws, bringing the number of states divesting from Sudan to 20, Romanoff said.
Romanoff said several major companies, including Schlumberger, had ceased operations in Sudan or reformed their business practices.
More than 200,000 people have been killed and 2.5 million displaced in fighting since 2003, when ethnic African rebels in Darfur took up arms against the Arab-dominated government.
The government has been accused of retaliating by recruiting militias who are blamed for the worst atrocities against civilians including beatings, murder and rape. The Sudanese government denies the accusations.
(AP)