FIDELITY UPDATE: POSITIVE STEPS, DIVEST THE REST

Following months of pressure by activists, Fidelity has taken some steps to divest part of their PetroChina holdings. (PetroChina is a Chinese oil company that is considered to be one of the highest offenders in funding the genocide in Darfur.) The Save Darfur Coalition believes this is a very positive step and confirms the importance of grassroots divestment work across the country. However, as of the most recently available filings, Fidelity continues to be a major investor in PetroChina, with over half a billion dollars of investment. Therefore, the campaign to get Fidelity to divest must continue.

Next Steps for Darfur Activists

Our partner, Fidelity Out of Sudan, initiated the campaign against Fidelity that, with the help of allied activists around the country, led to Fidelity's partial divestment.  We will continue to work with the Fidelity Out Of Sudan campaign to keep the pressure on until Fidelity has fully divested and pledges not to buy PetroChina and Sinopec shares until the genocide is over.

Update from Fidelity Out Of Sudan

Our collective efforts are paying off. Fidelity’s May 15 filing with the SEC showed that as of March 31, Fidelity had sold 91% percent of its PetroChina shares and 99% of its Sinopec shares that trade on the New York Stock Exchange. This action by Fidelity is a significant step in the right direction and evidence that your voice and those of thousands of others are being heard.

BUT IT’S NOT OVER

Fidelity's action, while significant, is only a first step. Fidelity is still a massive shareholder in PetroChina by virtue of shares purchased on the Hong Kong stock exchange, called H shares, which represented more than half of its previous holdings in PetroChina. 

Since Fidelity has made no commitment regarding divestment from PetroChina and Sinopec, investors entrusting their money to Fidelity mutual funds continue to risk inadvertently investing in these companies helping to fund the genocide in Darfur.

WE MUST KEEP THE PRESSURE ON

Momentum for the campaign and pressure on Fidelity has continued to build. Save Darfur Coalition has added its voice to the campaign. You can see the TV and print ads at the Divest for Darfur newsroom. We must keep the pressure on Fidelity to disclose and to divest! Our goals remain the same:

1) Complete divestment by Fidelity from PetroChina and Sinopec, two Chinese oil companies that help to fund the genocide in Darfur

2) A commitment from Fidelity that they will not invest in these companies until the genocide has ended

HOW YOU CAN HELP

Keep up the pressure on Fidelity. Tell Fidelity that 38% divestment is not enough. Ask that they divest completely and make a commitment to not invest in PetroChina and Sinopec until the genocide in Darfur has ended. Visit www.FidelityOutOfSudan.com for information on how to contact Fidelity. If you have sent Fidelity a message earlier in the campaign, now is the time to contact them again! If you are a shareholder and want to learn of other options for getting involved, please send us an email at info@fidelityoutofsudan.com.

We're very excited about the progress we've made together and even more excited about the initiatives now being planned. Together we are making a difference for the people of Darfur. It is great to see some movement in the right direction from Fidelity!

Our voices are being heard. Our actions are having results. Keep the pressure on Fidelity to disclose and to divest!

Check the www.FidelityOutOfSudan.com website for news about the campaign. There has been a lot of noteworthy press about the impact of our efforts.