Saturday, May 31, 2008

Permanent Fund Board Asked to Divest

Save Darfur Anchorage volunteers and Darfur refugees asked the Permanent Fund Board during the Board's Anchorage meeting on May 28th to adopt a targeted Sudan divestment policy. Save Darfur Anchorage members Debbie Bock and Kelley Nixon gave testimony encouraging the divestment, while Safi Mohammed Ali, a Darfur refugee who recently arrived in Anchorage, pleaded that the Board "do all that is in your power to bring peace to my homeland."

As of March 31, 2008, the Permanent Fund had $17.5 million of direct holdings in 3 companies that are considered by the Sudan Divestment Task Force (SDTF) as being among about 25 companies that provide the greatest financial and/or political support to the Government of Sudan, while providing very little to no support to the people of Darfur or other marginalized Sudanese populations. These 3 companies are Alstom, Wartsila, and Lundin Petroleum AB. To learn more about these companies' operations in Sudan, go to The SDTF Reports Page and download the Sudan Company Report.

In 2007, the Permanent Fund had approximately $22 million invested in 6 Highest Offender companies. Save Darfur Anchorage commended the Permanent Fund Corporation for having divested from 2 of those companies earlier this year and encouraged continued divestment. The third company, Petrofac, was removed by the SDTF from the Highest Offenders list after the company completed a SDTF-approved Substantial Action Plan. In this plan, Petrofac has committed to funding the first 2 years of a 4-year pilot education program in southern Sudan, with the option to extend the funding. The pilot will involve funding 60 one-room primary schools, whose students will be from marginalized areas of south Sudan. The project hopes to provide education to girls and other children who do not have the opportunity to attend school.

Please continue to voice your support for targeted divestment to the Permanent Fund Corporation:
Alaska Permanent Fund Corporation
P.O.Box 115500
Juneau, Ak 99811-5500
(907) 796-1500, TTY (907) 796-1523