■Many financial institutions invest in PetroChina, a company which, through its parent, CNPC, provides Sudan's government with revenue that has been helping fund the Darfur genocide for years. The conflict has claimed 300,000 lives and left millions homeless. With a billion-dollar stake in PetroChina as of January 2011, JPMorgan Chase is one of its largest investors. On May 17, JPMorgan Chase shareholders have the opportunity to vote for genocide-free investing. How would you vote?
■Click here or on the image on the left to see the full-page ad in The Wall Street Journal from May 11, 2011, or click here for the pdf version.
■The full text of the shareholder proposal, "Proposal 10 - Genocide-free investing" as listed in the proxy statement, is included at the bottom of this page. The resolved clause of the proposal states:
"Shareholders request that the Board institute transparent procedures to prevent holding investments in companies that, in management's judgment, substantially contribute to genocide or crimes against humanity, the most egregious violations of human rights. Management should encourage JPMorgan funds with separate boards to institute similar procedures."
Sunday, May 15, 2011
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