Fidelity Divests!

Citizens for Global SolutionsMay 18, 2007

Originally published on the CGS blog on May 18, 2007.

Big news on the Sudan divestment front from the past few days: Fidelity divested 91% of its American Depository Receipts (otherwise known as “a whole lot of shares“) from PetroChina. Fidelity is the world’s largest mutual funds company, and China purchases 70% of Sudan’s oil through companies like PetroChina. This is especially big news for activists and organizations like the Sudan Divestment Task Force and Fidelity Out of Sudan who have worked tirelessly to see Fidelity divest its shares.

About CGS

CGS is a non-governmental, non-profit, non-partisan membership-based organization that for more than 75 years has brought together a diverse collective of individuals and organizations with a common goal of a unified world predicated upon peace, human rights, and the rule of law. Founded in 1947 as the United World Federalists, CGS works through advocacy, education, and coalition building, and operates through its Education Fund, a 501(c)(3), and its Action Network, a 501(c)(4). The organization is a member of the World Federalist Movement-Institute for Global Policy and holds consultative status with the United Nations Economic and Social Council.

Media contact

Eston McKeague, Outreach & Communications Officer, communications@globalsolutions.org