Senator Brian A. Joyce is pleased to announce that the Senate voted this week to require the Commonwealth’s Pension Reserves Investment Management Board (PRIM) to divest in certain companies who conduct business within Sudan.  The bill, which was co-sponsored by Senator Joyce, is aimed at putting economic pressure on the Sudanese government to stop the genocide in the country’s Darfur region.

Darfur has been described as one of the world’s worst humanitarian crises. The brutal tactics of feuding warlords on both sides have left hundreds of thousands dead and prompted over 2 million to flee their homes.

“We have a moral obligation to do whatever we can to end the atrocities in the Sudan,” explained Senator Joyce. “With this legislation, the Commonwealth is sending a strong message to the Sudanese government that their actions in Darfur are immoral, and that this state will not invest in companies who support this government and ignore the genocide occurring in that country.”

The legislation focuses on divesting from a targeted group of companies who support the Sudanese government, and have not made efforts to aid the portion of the population being victimized.  It does not bar investments from companies who have humanitarian relief efforts in place.

As a result of targeting certain companies, the legislation would affect investments in only 6 companies, or approximately .15 percent of PRIM’s total holdings.  In addition, PRIM has a significant time frame to divest from these companies and also has the option to opt-out of divesting from a company if it will negatively impact investment returns.

“Massachusetts has been on the forefront of human and civil rights movements throughout history,” said Senator Joyce. “Our state can boast the oldest working constitution in the country, a constitution authored by John Adams and one with a long, proud tradition of championing civil rights. Massachusetts is, after all, a state of firsts: the first state to outlaw slavery within its borders, the first state to legalize same-sex marriage, and the first state to completely divest from South Africa in the 1980s, effectively leading other states across the country to follow suit. I am proud of the actions of the Senate.”