Vanguard

Many financial institutions invest in a handful of foreign oil companies, such as PetroChina, that help fund the government of Sudan’s deadly campaign of violence against millions of its citizens.  With over a billion-dollar stake, Vanguard is one of PetroChina’s largest investors.

In July 2009, despite Vanguard’s active opposition, shareholders of 21 Vanguard funds voted in support of the proposal with votes ranging from 7% to 17% in favor of genocide-free investing.

Results at the Vanguard shareholder meeting were lower than those in 2008 and 2009 at Fidelity, which ranged from 17% to 31%.  Investors Against Genocide attributes the lower results to Vanguard’s  statement of opposition which contended that the genocide-free investing proposal called for procedures that “duplicate” existing practices and were “substantially identical” to existing procedures of the Vanguard funds.

However, Vanguard’s “substantially identical” policy has not resulted in the sale of any of the large oil companies with ties to genocide. Rather, Vanguard’s Plain Talk About Proxy Proposal 3 web page states that “the trustees have determined that no companies have warranted divestment.”

Since the shareholder vote, Vanguard has continued to hold and purchase additional shares of PetroChina and Sinopec, oil companies tied to the genocide in Sudan.

  • Has a genocide-free investing policy
  • Divested from PetroChina
  • Voted for GFI shareholder proposal

Support this Campaign

1

Send a Message

Tell Vanguard, Fidelity, JPMorgan Chase, Franklin Resources and other financial firms to adopt a genocide-free investing policy. Sign the petition

2

Spread the News

Public opinion is a critical factor in convincing financial institutions to avoid investments tied to genocide. Help us spread the word on Facebook and Twitter.

 


3

Submit Shareholder Proposal

We are seeking to volunteers to submit our genocide-free investing proposal. If you own at least $2000 worth of shares in a mutual fund or company, and have held those shares for at least a year, you qualify to volunteer. To volunteer, contact us at info@InvestorsAgainstGenocide.org.

In the News

Vanguard's shame

Marc Gunther
July 3rd, 2009

Vanguard Shareholders Vote on Genocide-free Investing Proposal

Investors Against Genocide
July 2nd, 2009

Death by Dollars

New York Times
February 11th, 2007