U.S pension funds group unloads Sudan-linked oil shares
(GIN)—TIAA-Cref, asset manager for some of the largest employee pension funds in the U.S., has become the first to divest itself of stakes in four Asian oil groups over concerns about human rights abuses in Sudan.
(GIN)—TIAA-Cref, asset manager for some of the largest employee pension funds in the U.S., has become the first to divest itself of stakes in four Asian oil groups over concerns about human rights abuses in Sudan.
The move is a victory for rights organizations who have been demanding a sell-off of shares in companies doing business with Khartoum. The move will increase pressure on other investors to sever ties with those companies.
“Today’s announcement demonstrates that TIAA-CREF has honored its commitment to genocide-free investing,” said Eric Cohen of the Boston-based Investors Against Genocide. “TIAA-CREF has taken a public stand supporting the overwhelming majority of Americans who do not want their savings and pension funds connected to genocide.”