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Sudan divestment campaigns gain momentum

Author: Holly Hubbard Preston, International Herald Tribune, Published on: 23 May 2008

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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Related companies: Alstom Indian Oil Corporation Lundin Petroleum ONGC (Oil & Natural Gas Corporation) PetroChina (part of China National Petroleum Corporation) Petrofac Petronas Sinopec Total