The United Nations has described Sudan’s western Darfur region as one of the world’s worst humanitarian crises. It is estimated that 200,000-400,000 Darfurians have been slaughtered, 2.5 million more have been driven from their homes, and the Sudanese government’s blockade of humanitarian aid to the displaced have left over 3 million in danger of starvation. Despite the genocide, the Sudanese economy has remained strong, supported heavily by direct foreign investment in the oil industry.
The Sudan Accountability and Divestment Act of 2007:
- Authorizes state and local governments to divest in companies that conduct government operations in specific sectors of the Sudanese economy.
- Allows mutual fund managers to cut ties, at their discretion, from companies involved in specific sectors of the Sudanese economy.
- Requires federal contractors to certify that they do not do business with firms involved in specific Sudanese sectors.
- Establishes the sense of Congress that private pension managers are already authorized to divest their public pension funds from such businesses, in accordance with existing Department of Labor regulations.
- Withdraws divestment authority and federal contract prohibitions once the President certifies to Congress that the Sudanese government has changed certain policies and the situation in Sudan has improved.
The Democratic-led Congress is working to stop the genocide and violence in Darfur. In June the Oversight Committee held a hearing on China, which is hosting the 2008 Olympics, to use its unique influence and economic leverage to stop genocide and violence in Darfur. Having continually pressed President Bush to do more to stop this genocide, Speaker Pelosi also raised the issue with Chinese Vice Premier Wu Yi in May.
The Gavel: House Passes Sudan Accountability and Divestment Act of 2007>>
Read the Gavel's coverage of Congress' work to stop the genocide and violence in Darfur>>
