Comments on: NewsAnalysis: TIAA-CREF Divests from Genocide http://www.cchange.net/2010/01/08/tiaa-cref-divests-from-genocide/ Covering the transformations to social, environment and economic sustainability Sun, 18 Dec 2011 00:51:54 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Bill Baue http://www.cchange.net/2010/01/08/tiaa-cref-divests-from-genocide/comment-page-1/#comment-10610 Bill Baue Mon, 11 Jan 2010 04:13:02 +0000 http://www.cchange.net/?p=2272#comment-10610 Thanks for pointing out the Walmart example, Tony. The question is not only if TIAA-CREF's divestment changes PetroChina, but more importantly, whether it changes Sudan. I just met with Bob Massie yesterday and he gave me a copy of his book Loosing the Chains, which traces the history of apartheid South Africa, and describes its interlinking history with the US. The South Africa divestment movement had a huge role in the end of apartheid. (Bob pointed out that Tim Smith, now of Walden Asset Management, sent Stephen Biko materials from the Black Power movement in the US, which helped seed a black empowerment movement in SA.) So the question is, could divestment have the same impact on Sudan? The relationship between China and Sudan seems as complex and intertwined (in different ways of course) as the US-South Africa ties. It will be interesting to continue watching the Sudan divestment movement. Best, Bill Thanks for pointing out the Walmart example, Tony.

The question is not only if TIAA-CREF’s divestment changes PetroChina, but more importantly, whether it changes Sudan.

I just met with Bob Massie yesterday and he gave me a copy of his book Loosing the Chains, which traces the history of apartheid South Africa, and describes its interlinking history with the US. The South Africa divestment movement had a huge role in the end of apartheid. (Bob pointed out that Tim Smith, now of Walden Asset Management, sent Stephen Biko materials from the Black Power movement in the US, which helped seed a black empowerment movement in SA.)

So the question is, could divestment have the same impact on Sudan? The relationship between China and Sudan seems as complex and intertwined (in different ways of course) as the US-South Africa ties.

It will be interesting to continue watching the Sudan divestment movement.

Best,
Bill

]]> By: Tony Hay http://www.cchange.net/2010/01/08/tiaa-cref-divests-from-genocide/comment-page-1/#comment-10608 Tony Hay Sat, 09 Jan 2010 15:39:44 +0000 http://www.cchange.net/?p=2272#comment-10608 The very public divestment from WalMart by Norges Bank Investment Management undoubtedly helped change the firm's environmental and human rights policies to the point where they are now heralded as a leader. There are other concrete examples of divestment having a positive impact on a firm's practices. Generally, however, it is difficult for investors (even huge investors such as TIAA-CREF) to influence any corporation unless that corporation cares about their public image. Does PetroChina care that TIAA-CREF sold their stock? Probably not, because for every seller of their stock there is a buyer (someone bought TIAA-CREF's $60m holdings). Perhaps, however, the beneficiaries of TIAA-CREF's investment programs might be happier to invest that $60m in another stock. The very public divestment from WalMart by Norges Bank Investment Management undoubtedly helped change the firm’s environmental and human rights policies to the point where they are now heralded as a leader. There are other concrete examples of divestment having a positive impact on a firm’s practices. Generally, however, it is difficult for investors (even huge investors such as TIAA-CREF) to influence any corporation unless that corporation cares about their public image. Does PetroChina care that TIAA-CREF sold their stock? Probably not, because for every seller of their stock there is a buyer (someone bought TIAA-CREF’s $60m holdings). Perhaps, however, the beneficiaries of TIAA-CREF’s investment programs might be happier to invest that $60m in another stock.

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