Massachusetts State Divestment bill signed into law on November 2!

Thank you to supporters on Beacon Hill and throughout the state
  • Governor Patrick, Lt. Governor Murray, State Senator Chandler, and State Representative Kaufman all spoke at the signing ceremony in a room packed with supporters at the State House.
  • "The Sudanese government must take a strong stand against the genocide in their country, and bring real relief and progress to the people of the region.” - Governor Deval Patrick
  • “It is in our great tradition to fight for freedom and the dignity of all people.” - Lieutenant Governor Tim Murray
  • "The crisis in Sudan is an international concern, but we can act locally to make a difference in support of the people of Darfur.” - Senator Harriette Chandler
  • "I am appalled that we are still faced with nation-states that practice genocide. Today, we are all sending a clear and strong message that the Commonwealth will no longer tolerate nor invest in regimes like the Sudan.” - Representative Jay Kaufman

Background on MA state divestment from Sudan

  • Don't allow your tax dollars to be invested in companies helping to fund the genocide.
  • On June 26, 2007, the Massachusetts Senate passed S2255 with a unanimous vote. The bill moves on the House Ways and Means Committee.  Click here for a fact sheet on S2255.   Note that the bill was previously numbers S2217.
  • April 19, Senate Bill 1474 was unanimously passed the Joint Committee on Public Service. It was subsequently renumbered to be Senate Bill 2217 and then S2255.  Click here for the press release on the unanimous approval of SB1474 by the Joint Committee on Public Service.
  • National experts have advised that divestment is one of the most effective tools for directly influencing the government of Sudan. The Massachusetts legislature will be considering a carefully crafted bill to require that the State pension fund divest from targeted companies doing business with Sudan.

SB 2255 (previously S2217 and S 1474) builds on the text of the bill from the last legislative session which had been approved unanimously by the Joint Committee on Public Service before time ran out in the session.

  • Click here for the text of S2255 (formerly S2217).
  • Click here for a fact sheet on S2255.
  • Click here for a fact sheet on Targeted Divestment and the Massachusetts bill.
  • Click here for statements from Treasurers of other States and Cities on targeted divestment from Sudan.
  • Click here for information on other institutions utilizing the Targeted Divestment model.

Note that US government sanctions already prohibit US companies from doing business with Sudan, but large international companies still do. Local government pension funds are some of the largest investors that can influence those international companies. S2255 ensures that your taxpayer dollars are not financing the genocide in Darfur, Sudan, in which over 400,000 people have been killed and more than two million displaced since 2003.

Hearing and testimony for MA state divestment from Sudan

Gardner Auditorium at the State House was filled on March 29, 2007, for the hearing by the Joint Committee on Public Service. It was a powerful event, with a host of speakers in support of targeted divestment from Sudan. Excellent press coverage, with cameras reported from Channel 2, Channel 5, and Fox TV 25.

The session began with Lt Gov. Murray saying the Patrick-Murray administration supported divestment, saying "Massachusetts has always been a beacon of freedom and human rights to the world. By moving to divest our holdings in companies that do business with the brutal regime in Sudan, we will do our part to speed the ending of this horrific genocide."

Among those giving testimony were:

What the bill does

SB 2255 would require the Massachusetts $43 billion state pension fund strip itself of certain, targeted investments in companies doing business in Sudan, the African country torn by violence and condemned by President Bush for genocide.

Targeted divestment and how it works

Targeted divestment removes invested money from companies that are directly or indirectly helping the Sudanese government perpetuate genocide. Since the ultimate intent of Sudan divestment is to protect the victims of genocide, it is important to tailor divestment to have maximal impact on the government of Sudan's behavior and minimal harm to innocent Sudanese. Divestment should therefore be targeted to those companies that provide revenue (or arms) to the government, impart minimal benefit to the country's underprivileged, and have expressed no significant corporate governance policy regarding the Darfur situation.

If an institution divests from companies (that meet targeted divestment criteria), demand for their stock falls and the price of shares decline. To protect the value of shareholder investments, these company executives will make it clear to the Sudanese government that the perpetuation of genocide in Darfur is making the country an undesirable place to do business. As a result, either government behavior will change (in order to keep businesses in Sudan) or companies will leave Sudan, also withdrawing money that is used to purchase military equipment for the genocide.

To learn more about other Sudan divestment campaigns please visit the Sudan Divestment Task Force at www.sudandivestment.org

Statements from sponsors of the similar bill from the last session of the legislature

Senator Andrea F. Nuciforo (D-Pittsfield)
Chair of the Financial Services Committee.
"Public employees in Massachusetts should not have to worry that their pensions are coming from businesses that support a genocidal and terrorist regime. The purpose of divesting is to encourage the companies that do business with Sudan to halt operations until the Sudanese government stops the violence and allows international aid to provide critical assistance."

Representative Jay Kaufman (D-Lexington)
Co-Chair of the Joint Committee on Public Service
"The genocide in Darfur is something we all know about. We all desperately feel it is unethical not to speak out and do something about what is going on in the Sudan." The legislation sends an "important ethical and moral statement."