The Sudanese government is sponsoring a genocide in the Darfur region of western Sudan. The genocide has already killed over 400,000 innocent civilians and displaced another 3 million from their homes.
Investment from some foreign companies plays a key role in the Sudanese government's ability to fund these atrocities.
Pennsylvania's pension funds may be invested in these companies - in other words, Pennsylvania funds may be going towards supporting genocide.
The cities of Philadelphia (in Sept 2006) and Pittsburgh (in March 2007) have already divested their funds from key companies doing business in Sudan.
Eight Pennsylvania colleges and universities have either already divested their funds from companies doing business in Sudan or are considering doing so.
Nationwide, 9 states have already divested from companies doing business in Sudan. Additionally, legislation has been passed and is currently awaiting governor's signature in another state.
I introduced targeted Sudan divestment legislation in the Pennsylvania House of Representatives.
It was referred to the State Government Committee, of which I am the majority chair, on April 23, 2007.
My bill targets only those "worst-offending" companies that are most directly facilitating genocide in Sudan, that are not providing benefit to marginalized populations in Sudan, and that are not using their presence in Sudan to put pressure on the Sudanese government to stop sponsoring genocide.
No US companies are targeted.
The bill has a number of safeguards to ensure that targeted Sudan divestment would be financially safe for the commonwealth of PA.
With one of the biggest public pension systems in the country, PA should ensure that its money is not going towards genocide by rapidly passing and implementing this legislation.
In July 2007 House Bill 1140 passed the Pennsylvania House of Representatives. The bill has been referred to the State Senate.
In the Senate the bill was referred to the Finance Committee on July 8, 2007.
Can 'Philadelphia Model' Stop Darfur Genocide? - by Elmer Smith of the Inquierer - October 26, 2007 State Rep. Babette Josephs bill to force the state's $70 billion pension fund to follow Philadelphia's lead passed the House in June and is being considered in the state Senate. "These atrocities are being sponsored by the government in [Sudan's capital] Khartoum," Josephs told me yesterday. "We have to do something about it. "We're halfway there. My bill passed the House, and the Senate is considering it. They move more slowly. But I'm optimistic that it will pass the Senate." She estimates that the divestment bill would affect about $700 million, or about 1 percent, of the state's investment portfolio. It's enough to make a difference - but not enough to jeopardize anyone's pension. "My pension comes from these same funds," she said. "We have safeguards to protect Pennsylvania pensioners. "My bill does not encourage divestment from any company that supplies educational or nutritional or medical aid," she said. "We don't want to hurt the innocent. "It's sound fiscal policy. Investing in companies that do business this way is bad business, because more and more funds are divesting from those companies."
PRESS RELEASE:Josephs: Economic Pressure Needed to Stop Darfur Genocide PHILADELPHIA, May 4 -- State Rep. Babette Josephs, D-Phila., chairwoman of the House State Government Committee, has announced that the committee will hold a public hearing on legislation that would address the divestment of public money from Sudan.
United Jewish Communities: Darfur Report April 27, 2007 Jewish Community Relations Council of Greater Philadelphia – The Philadelphia JCRC, as part of the Darfur Alert Coalition, sponsored a rally and march through downtown Philadelphia...City Controller Alan Butkovitz, who led the way for the City of Philadelphia Divesting from Sudan, stood beside State of PA Rep. Babette Josephs as she announced introduction of her bill [HB 1140] to Divest the State of PA pensions.
PRESS RELEASE:Local Activists Rally for Darfur PHILADELPHIA, April 29 -- State Rep. Babette Josephs, D-Phila., Philadelphia Councilwoman Jannie Blackwell (D-3rd) and City Controller Alan Butkowitz joined Philadelphia's Darfur Alert Coalition today at its third annual "Drumbeat for Darfur" rally and march calling for U.N. Peacekeepers to protect Darfur now. Josephs announced the introduction of her Pennsylvania divestment legislation, H.B.1140, which would prevent Pennsylvania employees' pension money from being invested in companies that support genocide in Darfur.