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HomeMy WebLinkAboutResolutions - 2007.10.04 - 9361Miscellaneous Resolution #07192 BY: Commissioner David Woodward, District #18 RE: Board of Commissioners — Oakland County Sudan Divestment Policy TO: Oakland County Board of Commissioners Chairperson, Ladies and Gentlemen: WHEREAS for over three years, the Government of Sudan has undertaker, an ethnic cleansing to exterminate the people in the Darfur region of Sudan. The United Nations calls the situation the world's worst humanitarian crisis; and WHEREAS the crisis in Darfur is an extreme case whereby a government is responsible for a genocidal campaign against part of its own population by supporting and encouraging the brutality of the Janjaweed militia. This has resulted in the displacement of 2.5 million people out of Darfur's total population of 6 million, who have fled from their homes into internal camps and other squalid places of refuge. Over 400,000 defenseless civilians have fled their homes, only to become refugees to neighboring Chad, have died from violence, disease, and other conditions related to forced displacement and insufficient access to humanitarian assistance; and WHEREAS the U.S. Congress, in July 2004, declared these atrocities to be genocide. U.S. law prohibits most American companies from operating directly in Sudan. However, U.S. firms are legally able to invest in foreign companies that operate in Sudan, including "highest offenders" that make a significant contribution to funding the genocide; and WHEREAS the Sudanese government is completely dependent on foreign investments to support its government and the military operations perpetrating the genocide. Most foreign investments in Sudan are in the oil and gas industry, providing little benefit to the civilian population, with over 70% of the oil royalties received by the Government of Sudan used to support the military; and WHEREAS many U.S. investment companies, including Fidelity and Berkshire Hathaway, invest in PetroChina, Sinopec, ONGC, Petronas, Schlumberger, and other highest offending companies. Consequently, many individual investors are supporting the genocide without their knowledge; and WHEREAS NGO Divest Sudan has identified 81 U.S. public pension portfolios with over $91 billion in assets in companies that do business Wth the Sudan; and WHEREAS because of the prolonged failure of international diplomatic efforts to halt the genocide, and realizing that continued investment (and profiting) from foreign companies financially enabling genocide is morally reprehensible, many states, cities, and universities are divesting those holdings; and WHEREAS divestment is aimed at applying maximum economic pressure on the Sudanese government to permit UN peacekeepers into the country. A bipartisan U.S. Congressional coalition has endorsed the national divestment advocacy and research group, Sudan Divestment (www.sudandivestment.org ) urging all states, governors, and retirement boards to divest. Three state retirement boards have passed divestment resolutions; and WHEREAS a number of states, such as California, Illinois. Oregon, New Jersey, Maine, and Connecticut have passed legislation calling for state funds to be divested from Sudan, and a campaign is underway in more than 75 states, cities, and universities, calling for a targeted divestment of funds from companies doing business with the Sudanese government; and 1,7,7 Commissiofler Distri9f # Cornmissioner District # mmissioner istrict # Commission% District # / 7 Commissioner District # Commissioner District # WHEREAS Oakland County is deeply concerned about the ongoing tragedy in Darfur, which the U.S. Congress, State Department, and President, as well as other world leaders, have recognized as genocide and therefore does not want public funds invested in the "offending" companies operating in Sudan. NOW THEREFORE BE IT RESOLVED that the Oakland County Board of Commissioners hereby establishes a Sudan Divestment Policy and calls upon the Oakland County Treasurer and the Retirement Boards of Oakland County to divest Oakland County funds of any investments made in corporations doing business with Sudan. BE IT FURTHER RESOLVED that Oakland County will not make further investments in offending companies until the Sudanese government stops its military and militia forces from committing genocide. BE IT FURTHER RESOLVED that the Oakland County Board of Commissioners urges the Governor and Michigan State Legislature to adopt a Sudan Divestment policy. BE IT FURTHER RESOLVED that the Oakland County Clerk is requested to forward copies of this adopted resolution to the Oakland County Treasurer, Oakland County Retirement Boards, Fidelity Investments, ICMA-RC, Governor of Michigan, Oakland County delegation to Michigan legislature, the Michigan Association of Counties, the National Association of Counties and Oakland County's legislative lobbyists. 40 . hai • erson, we mtive the a Id Commissioner I District #18 Commissioner ict # •),)-- 'rimmissioner District avid Woodward tion of thefforegoing Resolutio Cbmrnisloner Distri # I j t a_A_AA _ Commissioner District # Commissioner Commissioner District # District # Commissioner Commissioner District # District # Commissioner Commissioner District # District # Commissioner Commissioner District # District # Commissioner Commissioner District # District # Commissioner Commissioner District # District # Commissioner Commissioner District # District # Resolution #07192 August 16, 2007 The Chairperson referred the resolution to the Finance Committee, There were no oDjections.