I'm considering covering the genocide in Darfur as a potential topic. I would focus my study on the ethical dilemma of mutual fund companies indirectly investing their money into the genocide. Companies such as Fidelity invest in Petrochina, the largest oil and gas distributor in the world. Petrochina has been accused of using its financial resources to arm militias in Darfur in order to protect their interests in the region. Many companies around the world invest in Petrochina, making it a powerful global conglemorate with a wide range influence. The goal of Investors Against Genocide is for the "divestment" of American mutual fund companies from Petrochina. They champion the idea of non-violent, genocide-free investing and make a concerted effort to keep people apprised of the ongoing conflict. So far, the organization has experienced success in persuading companies such as TIAA-CREF and IAG to withdraw their investments in Petrochina.
This is a topic I have explored in previous coursework, but only on the surface. I feel that in order for me to truly understand what is going on and effectively communicate it to a general audience, I must make a cautious effort to undertake more in-depth research. What interests me the most about this topic is the collision of moral and economic interests. Given the way the economy has been in recent years, even the most morally sound people would be hesitant to withdraw from their respective mutual fund company. The companies that both my parents work for have retirement funds that are managed by Fidelity, Investors Against Genocide's main target,but they can't just be expected to risk my family's financial future. Both of their employers require them to invest in Fidelity for their 401K's. Many companies have such policies, giving people little choice to have a say in the matter of ethical investing. It is a lot to expect people to risk jobs and financial stability by withdrawing their investments. This is why Investors Against Genocide has encouraged people to submit shareholer proposals requesting genocide-free investing. These proposals have proven to be effective and serve as the main reasons why TIAA-CREF and AIG withdrew their investments in Petrochina. They believe that people should have the right to decide where there money goes. This is a profound and challenging topic to consider, but I'd like to tackle it because I truly believe in the good that can result from the actions of organizations such as Investors Against Genocide.
No comments:
Post a Comment