Urgent Action: Vote for Genocide-Free Investing from Vanguard

by Michelle

category: Activism & Advocacy

Published April 28, 2009 @ 05:36PM PT

Below is an email sent out by Investors Against Genocide with an urgent action alert for all Vanguard customers. Even if you are not a customer yourself, you can help by forwarding this on to friends and family.

This week, millions of Vanguard proxy ballots will be mailed and emailed to American households. The ballots provide Vanguard customers with a unique opportunity to vote for genocide-free investing.  For shareholders of 30 of its funds, a vote FOR Question 3 indicates they do not want Vanguard to invest their family savings in companies that substantially contribute to genocide or crimes against humanity.

HELP "GET OUT THE VOTE"

Whether or not you are a customer, we need your help to get out the vote.  Please forward this email to friends and family and also use other means such as social networking sites, blogs, group meetings, and bulletin boards to spread the word.  We need to reach as many voters as possible since many people ignore proxy ballots assuming they contain no issues of interest. Click here for materials you can use to help spread the word.

VOTE YOUR VANGUARD SHARES

If you are a Vanguard customer, watch for your proxy ballots and vote your conscience on this important issue.  Look for Question 3 on the ballot page.

Vanguard is urging customers to vote "against" Question 3 stating that the company adopted a policy that is "substantially identical" to our shareholder proposal.  However, despite of the encouraging announcement about this policy, we were disappointed to learn from  Vanguard's SEC filing on March 31 that they actually recently increased their holdings of PetroChina and other large oil industry partners of the government of Sudan which help fund the genocide in Darfur.  Vanguard offers no explanation for its choice to buy more stock in these companies.  Vanguard declines to release the policy adopted by its funds' Board of Trustees, the names of companies about which it has concerns, or how it intends to implement the policy with problem companies.  Vanguard's lack of action and lack of transparency fails to demonstrate the commitment that shareholders deserve to feel confident that their savings are not connected to genocide.

The voting will remain open up until the shareholders meeting on July 2.  All Vanguard shareholders can change their vote to be FOR Question 3 right up until the meeting.  For instructions on how to change your vote or if you no longer have your voting materials, contact us at VanguardVote@InvestorsAgainstGenocide.org.

SEND AN EMAIL TO VANGUARD

Whether you are a customer or not, please click here to send email to Vanguard telling them to immediately divest the problem companies and become more transparent about their policy on companies tied to human tights abuses.

This battle with Vanguard will be very hard to win, since most shareholders don't bother to vote.  Vanguard's ambiguous policy will make our work more difficult.  Please help us "get out the vote" for genocide-free investing.

Thanks so much all you've done and continue to do for the cause.

The Investors Against Genocide Team

PS - If you haven't already joined us, please volunteer to submit a shareholder proposal for any mutual fund you have held for over a year and in which you have at least $2,000 invested.  We've made the process very easy and completely confidential.  Click here for details.  Becoming a volunteer costs nothing, extends the reach of the campaign, and helps to force a vote and increased public attention on the problem of financial firms investing in genocide.

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ABOUT INVESTORS AGAINST GENOCIDE

Investors Against Genocide is a non-profit organization dedicated to ending investment in genocide.  The organization works with individuals, companies, organizations, financial institutions, the press, and government agencies to build awareness and to create financial, public relations, and regulatory pressure for investment firms and companies to change. The ultimate goals are that the Government of Sudan ends its deadly genocide in Darfur and that companies and investment firms avoid investing in genocide. For more information, visit www.investorsagainstgenocide.org.