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Fundraising Committee

Fundraising Committee. Presentation overview. Roles of the Fundraising committee What’s so important about divestment? Financing genocide: how it all works Defining divestment Who has divested? Who has not divested? How can divestment be done as a student? Careers in the financial fields

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Fundraising Committee

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  1. Fundraising Committee

  2. Presentation overview • Roles of the Fundraising committee • What’s so important about divestment? • Financing genocide: how it all works • Defining divestment • Who has divested? Who has not divested? • How can divestment be done as a student? • Careers in the financial fields • Skills needed to work in the financial field

  3. Roles of the Fundraising Committee: The GAAP Fundraising committee is involved in all the financial aspects of the club, which include: • Planning and hosting events within the NYMC community that raises money for humanitarian organizations • Budgeting and allocating the club’s expenses

  4. Other roles the Fundraising committee can have • Involvement in the divestment campaign to stop the flow of money into the Sudanese government which pays for the weapons and vehicles of the Janaweed and the airplanes and weapons responsible for the killings in Darfur. • Raising public awareness through the divestment movement.

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

  6. How does this all work? • Sudanese government uses foreign oil services companies to extract oil and receives millions of dollars from these companies • $580 million in oil revenues in 2001 alone1 • $349 million in military spending in 2001 alone (60% of oil revenue)1 • 70% spent to support military in 20072 1http://www.hrw.org/reports/2003/sudan1103/8.htm Human Rights Watch 2http://www.sudandivestment.org/divestment.asp Sudan Divestment

  7. Oil money in Sudan funds the military and government enabling genocide 1http://www.sudandivestment.org/divestment.asp Sudan Divestment

  8. Targeted divestment can have an enormous impact on the genocide • Definition: sale of stock in companies most culpable of funding the genocide in Darfur and a commitment to not buy stock in companies that support genocide in Darfur • U.S. law prohibits American companies from operating directly in Sudan but firms are legally able to invest in foreign companies operating in Sudan • Does not withdraw support from companies helping the people of Sudan (e.g. agriculture, education, pharmaceuticals, etc.)

  9. Oil money in Sudan funds the military and government enabling genocide 1http://www.sudandivestment.org/divestment.asp Sudan Divestment

  10. Divestment is an effective way of pressuring the Sudanese government to halt genocide • U.S. sanctions in 1997 caused the Sudanese government to drop support for terrorism and cooperate with counter-terrorism1 • Sudanese government took a 6-page ad in the New York Times to counteract the divestment movement and attract foreign investment1 • Inside reports from officials in the Sudanese government indicates worry about divestment3 • Divestment campaign caused Canadian oil company Tailsman Energy’s share prices to drop 1/3 pressuring them to leave Sudan  led to government negotiations ending the country’s 21-year civil war in 2002 but excluded discussion of Darfur1 • Divestment was effective in ending apartheid in South Africa • News reports about divestment have appeared in a variety of media forms and continues to keep attention on the Darfur genocide 1http://www.calvert.com/sudan/8336.html Calvert Company 2http://www.sudandivestment.org/divestment.asp Sudan Divestment 3 Sudan Divestment campaign video

  11. Which companies are offenders and which have divested? • Highest offending companies unwilling to change • PetroChina (CNPC) (Sinopec, China) • ONGC (India) • Petronas, Muhibbah Engineering, Kencana Petroleum (Malaysia) • Lundin Petroleum (Europe) • Petrofac (UK) • Alstrom (France) • Targeted investment firms in the U.S. with holdings in PetroChina • Franklin Templeton • JP Morgan Chase • Capital Group/American Funds • Fidelity (divested some) • Vanguard • Investment firms that have divested • Calvert • Clean Yield Group • Domini Social Investments • Pax World • Prentiss Smith and Company, Inc. • Stewardship Partners • Trillium Asset Managemetn • Walden Asset Management/Boston Trust • Women’s Equity Fund • Helicopter Corporation • Rolls Royce, PLC • Siemens • 13 more companies • 52 universities • Numerous cities and states 1http://www.sudandivestment.org/divestment.asp Sudan Divestment

  12. States and universities that have divested. 1http://www.sudandivestment.org/divestment.asp Sudan Divestment

  13. Advertisement to persuade Fidelity Investments to divest http://youtube.com/watch?v=cqq3Bb44JjE

  14. Advertisement to persuade individual investors to divest http://www.youtube.com/watch?v=y31TNgu-Nf4

  15. New legislation on divestment and comment by Speaker of the House, Nancy Pelosi -Nancy Pelosi (D-CA), Speaker of the House of Representatives San Francisco Save Darfur Coalition Divestment Press Conference, release: October 1, 2007

  16. How individual students can support divestment • Sign a petition against investing in genocide targeting firms with holdings in PetroChina • www.DivestForDarfur.org • Take action on a national level • 1-800-GENOCIDE • Take action on a state level • www.sudandivestment.org • Attend divestment events to pressure firms • www.savedarfur.org/divest • Join STAND or form a STAND chapter at your school • www.StandNow.org 1http://www.sudandivestment.org/divestment.asp Sudan Divestment

  17. Working in the financial sector will allow your voice to influence investment and the course of social policy • Financial industry fields • Accounting • Financial analysis • Economics • Fund manager (investing firm or humanitarian organization) • Benefaction • Your influence on social policy • Influence on colleagues • Ability to gather and disseminate information • Refusal to work on projects adding to the suffering of others

  18. Skills and attributes for a career in finance. • Complex problem solving skills • Technical or computer skills • Leadership skills • Organizational skills • Excellent math skills • Communication skills

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