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Task Force Reports
Sudan Company Report
Summary: A listing and comprehensive profile of all problematic companies that SDTF has determined warrant scrutiny by investors because of their business operations linked to Sudan. The report is compiled with input from a variety of sources, including direct communications with problematic companies. SDTF has reached out repeatedly to all companies listed in the Sudan Company Report. Those that do respond and hold meetings with SDTF are given the opportunity to review their entry in the report to ensure factual accuracy.
Download Full Report (Analytical criteria reviewed by Calvert)
Task Force Model for Targeted Divestment
Summary: Recommended procedure/model legislation for shareholder engagement and targeted divestment of scrutinized companies in Sudan. Developed in consultation with foreign policy experts, asset managers, third-party research firms, and other institutions, this policy allows for maximal impact on the government of Sudan while minimizing harms to both Sudanese citizens and portfolio returns. The criteria target companies that:
1. Have a business relationship with the government or government-created project,
2. Impart minimal benefit to the country's underprivileged, and
3. Have demonstrated no substantial corporate governance policy regarding the Darfur situation.
The targeted divestment model only requires divestment from companies that are unresponsive to an expedited period of shareholder engagement.
Download Legislative Model for Targeted Sudan Divestment (Developed with pro bono legal support from Cooley Godward Kronish LLP)
For private institutions and public institutional investors interested in implementing the targeted Sudan divestment model without legislation, consider using our:
Sample Investment Policy Statement for Targeted Sudan Divestment
Sudan Divestment Resource Guide
Summary: Outlines the targeted Sudan divestment model developed by the Sudan Divestment Task Force and details the resources available to identify problematic companies in Sudan, tools for shareholder engagement, evaluations of financial costs and benefits for implementing the Sudan Divestment Task Force's targeted Sudan divestment model, and existing options for Sudan-free investing. The Resource Guide also addresses concerns regarding fiduciary duty, U.S. constitutional requirements, and the potential for Sudan divestment to set a precedent for other divestment requests.
Check Our Frequently Asked Questions
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Efficacy of Targeted Divestment
Summary: Describes the Sudanese government's unique vulnerability to economic pressure, why targeted divestment maximally affects the government's behavior while doing minimal harm to innocent citizens, and how a targeted divestment campaign can also coax better international cooperation on Darfur from countries heavily invested in Sudan. This report also touches on the possible effects of divestment on the implementation of the treaty that ended Sudan's 20+ year civil war, the Comprehensive Peace Agreement.
Download Fact Sheet
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State of Sudan Divestment
Summary: Reports on the status of Sudan divestment for the majority of campaigns at the national, state, city, university, private pension fund, asset management, and company levels. An interactive version is available through the Sudan Divestment Map.
View the 2008 Targeted Sudan Divestment Legislative Chart
View the 2007 Targeted Sudan Divestment Legislative Chart
View current statistics for the status of Sudan divestment
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PetroChina, CNPC, and Sudan: Perpetuating Genocide
Summary: An extensive report documenting the intimate, opaque, and symbiotic relationship between PetroChina, CNPC, and CNPC's extensive and problematic operations in Sudan. The report also responds to analysis from major past and present investors in PetroChina who have decided against rigorously engaging with the company.
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Addendum: As the largest shareholder of PetroChina until summer 2007, Berkshire Hathaway argued against engaging or divesting from PetroChina at its May 2007 shareholder meeting; Berkshire's comments were then used as justification by other asset managers who refused to engage or divest from PetroChina. In response to the cumulative views expressed by Berkshire Hathaway, the following addendum illustrates that PetroChina's subsidiary form is illusory and would not hold in US jurisdictions, further showing that PetroChina/CNPC are in fact one corporation.
Although the CEO of Berkshire Hathaway, Warren Buffett, announced in October 2007 that the company had sold all of their holdings in PetroChina, he stated the decision to sell was based solely on price considerations and not the company's connection to Sudan. Therefore the previous arguments laid out by Berkshire Hathaway regarding their holdings in PetroChina and the rebuttals presented in this report remain relevant and can be applied to other major investors in PetroChina.
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