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534 Dirksen Senate Office Building
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DODD HAILS FINAL PASSAGE OF HIS BILL WHICH WILL ENCOURAGE DIVESTMENT FROM DARFUR
Senator Urges President to Take Action Against Genocide and Sign Legislation into Law
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Dec 18, 2007 - - Washington, D.C. – Senator Chris Dodd (D-CT) today hailed final passage of his legislation which will provide several tools for pressuring the government of Sudan into halting the ongoing genocide in Darfur. The “Sudan Accountability and Divestment Act,” will now go to the President’s desk.
“Darfur is a humanitarian disaster,” said Dodd. “More than 450,000 people have been killed and 2 million displaced. Now is the time to take action and end the suffering of the people of Darfur. This legislation takes a vital step in the right direction by empowering American investors, taxpayers, and pensioners to divest from businesses supporting the murderous Khartoum regime. The President needs to sign this legislation into law now.”
The “Sudan Accountability and Divestment Act” will:
• Permit interested states and localities to adopt measures for divesting from companies involved in four key Sudan business sectors
• Allow mutual fund and private pension fund managers to cut ties with companies involved in four key Sudan business sectors; while maintaining that managers abide by fiduciary responsibilities and comply with all laws and regulations
• Require federal government contractors to certify that they are not involved in business in four key sectors of Sudan’s economy.
• Require the Departments of State and the Treasury to report on the effectiveness of current Sudan sanctions
• Provides conditions under which this bill will expire, including that Sudan abide by a UN Security Council Resolution, cease attacks on civilians, demilitarize the Janjaweed militia, allow unfettered humanitarian relief delivery, and grant refugees right of return.
Senator Dodd has consistently supported immediate action in dealing with the crisis in Darfur. As Chairman of the Senate Banking Committee, Dodd oversaw the passage of the legislation out of Committee where it passed unanimously on October 17th.
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