Study finds companies targeted for divestment from Sudan underperformed their competitors

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27 May 2008

[PDF] Sudan Peer Performance Analysis

Author: Genocide Intervention Network

The Peer Performance Analysis examines the historical performance of companies identified by SDTF as “Highest Offenders” in Sudan, as compared to the historical and forecasted performance of each company’s peer group. [companies examined: Petrochina, CNPC, Petronas, Misc Berhad, Oil & Natural Gas Corporation (ONGC), Mangalore Refinery & Petrochemicals, Sinopec, Lundin Petroleum, Aref Investment Group, Ranhill Bhd, Dietswell Engineering, Muhibbah Engineering, Kencana Petroleum, Kejuruteraan Samudra Timur, Avichina Industry & Technology Co, Jiangxi Hongdu Aviation Industry Corp, Hafei Aviation Industry, Harbin Dongan Auto Engine Co, Jiangxi Changhe Automobile Co, Harbin Power Equipment, Alstom, Wuhan Boiler Co, Wartsila Oyj, Bharat Heavy Electricals, Dongfeng Automobile Company, Indian Oil, Lanka IOC, Bongaigaon Refinery & Petrochemicals, Chennai Petroleum Corporation, Scomi Group, Scomi Engineering, PECD Berhad, Electricity Generating Public Company]

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23 May 2008

Sudan divestment campaigns gain momentum

Author: Holly Hubbard Preston, International Herald Tribune

A study [conducted with Bloomberg by the Genocide Intervention Network and its Sudan Divestment Task Force project] provides statistical evidence of what many advocates of socially responsible investing have long asserted: Companies with links to regimes with questionable human rights practices make poor investments, financially as well as ethically…The study examined actual and forecast returns on investment of 37 multinational companies affiliated with Sudan, the resource-rich country that has been accused of bankrolling a genocide campaign against its citizenry in its Darfur region…[T]he Sudan-linked companies…underperformed their peer group average by 46 percentage points the first year, 22 percentage points in the third year, and 7 percentage points in the fifth year. [refers to PetroChina, Indian Oil, Lundin Petroleum, Dietswell Engineering, Sinopec, Petronas, Oil & Natural Gas Corporation (ONGC), Alstom, Total, Petrofac]

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