York condemned for Sudan investment
The University’s investment policy has come under increased scrutiny after documents obtained by Nouse under the Freedom of Information Act revealed the University’s academic pension fund manager USS Ltd holds shares in Petrochina, a company with links to the war-torn area of Darfur.
Petrochina, a major Chinese oil firm, has been labelled as complicit in the genocide in Sudan, which has resulted in 400,000 deaths, the systematic rape of women and the displacement of 2.5 million people.
The conflict in Darfur, southern Sudan, has been raging since 2003, when the government launched a campaign of violence against ethnic and rebel groups.
Speaking to Channel 4 News, Christa Bennett, a human rights campaigner, said: “Petrochina are generating revenue for the Sudanese government that is being used by the Janjaweed militia to perpetrate genocide in Darfur.”
Hamish Falconer, Director of the Sudan Divestment group - a body calling for universities across the world to cease their investment in Sudan - said: “York University has a duty to the people of Sudan. It has investments in Sudan. It is not neutral. I urge York students to make their feelings known.”
Kate Evans, chair of the People and Planet Society, condemned the investments, saying: “I’d like to think the average student would be shocked to discover our tuition fees are indirectly funding genocide”.
University spokeswoman Nicola Coates said: “We understand concerns about this; however, USS Ltd is a separate company. Universities can make representations about their investments, but we don’t control them.”
She added, “The Registrar is in the process of setting up an ‘ethical investments’ working group. No doubt, USS investments will be one of the issues they consider.”
YUSU Environment and Ethics Officer Tom Langley said he was hopeful the University would implement an “ethical investment” policy in the future.
Petrochina has insisted it does not have any business in Sudan, a claim refuted by pressure groups. Concerns on the issue prompted Harvard University to sell its shares in 2005.
