Fundraising CommitteeFundraising Committee

Presentation overviewPresentation overview

Roles of the Fundraising committeeRoles of the Fundraising committee

What’s so important about divestment?What’s so important about divestment?

Financing genocide: how it all worksFinancing genocide: how it all works

Defining divestmentDefining divestment

Who has divested? Who has not divested?Who has divested? Who has not divested?

How can divestment be done as a student?How can divestment be done as a student?

Careers in the financial fieldsCareers in the financial fields

Skills needed to work in the financial fieldSkills needed to work in the financial field

Roles of the Fundraising Committee:Roles of the Fundraising Committee:

The GAAP Fundraising committee is The GAAP Fundraising committee is involved in all the financial aspects of the involved in all the financial aspects of the club, which include: club, which include:

Planning and hosting events within the Planning and hosting events within the NYMC community that raises money for NYMC community that raises money for humanitarian organizationshumanitarian organizations

Budgeting and allocating the club’s Budgeting and allocating the club’s expensesexpenses

Other roles the Fundraising Other roles the Fundraising committee can havecommittee can have

Involvement in the divestment campaign to Involvement in the divestment campaign to stop the flow of money into the Sudanese stop the flow of money into the Sudanese government which pays for the weapons government which pays for the weapons and vehicles of the Janaweed and the and vehicles of the Janaweed and the airplanes and weapons responsible for the airplanes and weapons responsible for the killings in Darfur.killings in Darfur.

Raising public awareness through the Raising public awareness through the divestment movement.divestment movement.

What’s so important about What’s so important about divestment?divestment?

““The divestment movement [helps] draw The divestment movement [helps] draw international attention to the appalling international attention to the appalling situation in Darfur while pressuring the situation in Darfur while pressuring the foreign companies working with the foreign companies working with the murderous Sudanese government to pull murderous Sudanese government to pull out. That could be a catalyst for change out. That could be a catalyst for change in Africa’s worst killing zone.”in Africa’s worst killing zone.”  - The Los Angeles Times Editorial Board, - The Los Angeles Times Editorial Board, March 2006March 2006

How does this all work?How does this all work?

Sudanese government uses foreign oil Sudanese government uses foreign oil services companies to extract oil and services companies to extract oil and receives millions of dollars from these receives millions of dollars from these companiescompanies– $580 million in oil revenues in 2001 alone$580 million in oil revenues in 2001 alone11

– $349 million in military spending in 2001 alone $349 million in military spending in 2001 alone (60% of oil revenue)(60% of oil revenue)11

– 70% spent to support military in 200770% spent to support military in 200722

1http://www.hrw.org/reports/2003/sudan1103/8.htm Human Rights Watch2http://www.sudandivestment.org/divestment.asp Sudan Divestment

Oil money in Sudan funds the military Oil money in Sudan funds the military and government enabling genocideand government enabling genocide

1http://www.sudandivestment.org/divestment.asp Sudan Divestment

Targeted divestment can have an Targeted divestment can have an enormous impact on the genocideenormous impact on the genocideDefinition:Definition: sale of stock in companies most sale of stock in companies most culpable of funding the genocide in Darfur and a culpable of funding the genocide in Darfur and a commitment to not buy stock in companies that commitment to not buy stock in companies that support genocide in Darfursupport genocide in Darfur

U.S. law prohibits American companies from U.S. law prohibits American companies from operating directly in Sudan but firms are legally operating directly in Sudan but firms are legally able to invest in foreign companies operating in able to invest in foreign companies operating in SudanSudan

Does not withdraw support from companies Does not withdraw support from companies helping the people of Sudan (e.g. agriculture, helping the people of Sudan (e.g. agriculture, education, pharmaceuticals, etc.)education, pharmaceuticals, etc.)

Oil money in Sudan funds the military Oil money in Sudan funds the military and government enabling genocideand government enabling genocide

1http://www.sudandivestment.org/divestment.asp Sudan Divestment

Divestment is an effective way of pressuring Divestment is an effective way of pressuring the Sudanese government to halt genocidethe Sudanese government to halt genocide

U.S. sanctions in 1997 caused the Sudanese government to U.S. sanctions in 1997 caused the Sudanese government to drop support for terrorism and cooperate with counter-terrorismdrop support for terrorism and cooperate with counter-terrorism11

Sudanese government took a 6-page ad in the New York Times Sudanese government took a 6-page ad in the New York Times to counteract the divestment movement and attract foreign to counteract the divestment movement and attract foreign investmentinvestment11

Inside reports from officials in the Sudanese government Inside reports from officials in the Sudanese government indicates worry about divestmentindicates worry about divestment33

Divestment campaign caused Canadian oil company Tailsman Divestment campaign caused Canadian oil company Tailsman Energy’s share prices to drop 1/3 pressuring them to leave Energy’s share prices to drop 1/3 pressuring them to leave Sudan Sudan led to government negotiations ending the country’s led to government negotiations ending the country’s 21-year civil war in 2002 but excluded discussion of Darfur21-year civil war in 2002 but excluded discussion of Darfur11

Divestment was effective in ending apartheid in South AfricaDivestment was effective in ending apartheid in South AfricaNews reports about divestment have appeared in a variety of News reports about divestment have appeared in a variety of media forms and continues to keep attention on the Darfur media forms and continues to keep attention on the Darfur genocidegenocide

1http://www.calvert.com/sudan/8336.html Calvert Company2http://www.sudandivestment.org/divestment.asp Sudan Divestment3 Sudan Divestment campaign video

Which companies are offenders Which companies are offenders and which have divested?and which have divested?

Highest offending Highest offending companies companies unwilling to changeunwilling to change– PetroChina PetroChina

(CNPC) (Sinopec, (CNPC) (Sinopec, China)China)

– ONGC (India)ONGC (India)– Petronas, Petronas,

Muhibbah Muhibbah Engineering, Engineering, Kencana Kencana Petroleum Petroleum (Malaysia)(Malaysia)

– Lundin Petroleum Lundin Petroleum (Europe)(Europe)

– Petrofac (UK)Petrofac (UK)– Alstrom (France)Alstrom (France)

Targeted investment Targeted investment firms in the U.S. with firms in the U.S. with holdings in holdings in PetroChinaPetroChina– Franklin TempletonFranklin Templeton– JP Morgan ChaseJP Morgan Chase– Capital Capital

Group/American Group/American FundsFunds

– Fidelity (divested Fidelity (divested some)some)

– VanguardVanguard

Investment firms that Investment firms that have divestedhave divested

– CalvertCalvert– Clean Yield GroupClean Yield Group– Domini Social Domini Social

InvestmentsInvestments– Pax WorldPax World– Prentiss Smith and Prentiss Smith and

Company, Inc.Company, Inc.– Stewardship PartnersStewardship Partners– Trillium Asset Trillium Asset

ManagemetnManagemetn– Walden Asset Walden Asset

Management/Boston Management/Boston TrustTrust

– Women’s Equity FundWomen’s Equity Fund– Helicopter CorporationHelicopter Corporation– Rolls Royce, PLCRolls Royce, PLC– SiemensSiemens– 13 more companies13 more companies– 52 universities52 universities– Numerous cities and Numerous cities and

statesstates

1http://www.sudandivestment.org/divestment.asp Sudan Divestment

States and universities that have States and universities that have divested.divested.

1http://www.sudandivestment.org/divestment.asp Sudan Divestment

Advertisement to persuade Fidelity Advertisement to persuade Fidelity Investments to divestInvestments to divest

http://youtube.com/watch?v=cqq3Bb44JjE

Advertisement to persuade Advertisement to persuade individual investors to divestindividual investors to divest

http://www.youtube.com/watch?v=y31TNgu-Nf4

New legislation on divestment and New legislation on divestment and comment by Speaker of the House, comment by Speaker of the House,

Nancy PelosiNancy Pelosi

-Nancy Pelosi (D-CA), Speaker of the House of RepresentativesSan Francisco Save Darfur Coalition Divestment Press Conference, release: October 1, 2007

How individual students can How individual students can support divestmentsupport divestment

Sign a petition against investing in genocide targeting Sign a petition against investing in genocide targeting firms with holdings in PetroChinafirms with holdings in PetroChina– www.DivestForDarfur.orgwww.DivestForDarfur.org

Take action on a national levelTake action on a national level– 1-800-GENOCIDE1-800-GENOCIDE

Take action on a state levelTake action on a state level– www.sudandivestment.orgwww.sudandivestment.org

Attend divestment events to pressure firmsAttend divestment events to pressure firms– www.savedarfur.org/divestwww.savedarfur.org/divest

Join STAND or form a STAND chapter at your schoolJoin STAND or form a STAND chapter at your school– www.StandNow.orgwww.StandNow.org

1http://www.sudandivestment.org/divestment.asp Sudan Divestment

Working in the financial sector will allow Working in the financial sector will allow your voice to influence investment and your voice to influence investment and

the course of social policythe course of social policyFinancial industry fieldsFinancial industry fields– AccountingAccounting– Financial analysisFinancial analysis– EconomicsEconomics– Fund manager (investing firm or humanitarian Fund manager (investing firm or humanitarian

organization)organization)– BenefactionBenefaction

Your influence on social policyYour influence on social policy– Influence on colleaguesInfluence on colleagues– Ability to gather and disseminate information Ability to gather and disseminate information – Refusal to work on projects adding to the suffering of Refusal to work on projects adding to the suffering of

others others

Skills and attributes for a career in Skills and attributes for a career in finance.finance.

Complex problem solving skillsComplex problem solving skills

Technical or computer skillsTechnical or computer skills

Leadership skills Leadership skills

Organizational skills Organizational skills

Excellent math skillsExcellent math skills

Communication skillsCommunication skills