Wednesday, February 27, 2008

Outreach to the Permanent Fund Corporation to Request Voluntary Divestment

The Permanent Fund Corporation does not have to wait for legislators to pass HB 287/SB 227 in order to divest from targeted companies, and they shouldn't. We think the Fund's managers should as soon as possible sell the Fund's direct holdings in the 6 companies that we are currently invested in that are identified by the Sudan Divestment Task Force as "Highest Offenders" because of their complicity in the Darfur Genocide. These 6 companies are CHINA PETROLEUM (SINOPEC), ALSTOM, PETROFAC LTD, WARTSILA, LUNDIN PETROLEUM AB, and CNPC HONG KONG LIMITED.

For readers who agree, please write to Mike Burns, Executive Director of the Permanent Fund Corporation, and request that the Permanent Fund Corporation pursue divestment on its own accord (like public fund manager's have in other states). The Permanent Fund Corporation shouldn't feel compelled to wait for law to dictate the right action when the Fund can (and should) do it on its own.

Mike Burns, Executive Director
Permanent Fund Corporation
P.O. Box 115500
Juneau, AK 99811-5500