Home
About us
Projects
Publications
Newsletters
Conferences
Media
News
Contact
Search
Login
News
Search
Sign up for Newsletter
21 August 2011
SRI-Adviser: Investors Call on Oil Companies to Consider Halting Operations in Syria
Source:
www.sri-adviser.com
by Robert Kropp
Institutional investors that are members of the Conflict Risk Network, referring to the Guiding Principles on Business and Human Rights, ask oil companies to condemn the harsh crackdown on demonstrations by the Syrian government of Bashar al-Assad.
The coalition of more than 100 institutional investors that are members of the Conflict Risk Network (CRN) have called on 11 oil and gas companies doing business in Syria "to halt operations or take other steps in response to the government's ongoing violent crack down on civilian protestors," according to a press release.
The Network, whose founding members include Boston Common Asset Management, Calvert Investments, and Domini Social Investments, also requested that the companies "make public or private statements to the Syrian regime to condemn the violence."
The violence in Syria had thus far resulted in 2,000 deaths, most of them of protesters who have been demonstrating since March. More than 10,000 people are in custody or missing in a government crackdown that has been widely condemned by the international community. On August 18, an alliance of nations led by the United States publicly called on Syrian President Bashar al-Assad to step down.
The oil companies with operations in Syria that received letters are Gulfsands Petroleum (UK), INA Industrija DD (Croatia), Maurel ET Prom (France), MENA Hydrocarbons Inc (Canada), Petrofac (UK), Royal Dutch Shell (Netherlands), Saipem (Italy), Sinochem (China), Suncor Energy (Canada), Tatneft (Russia) and Total (France).
Constantina Bichta, Principal ESG Researcher at Boston Common, stated, "The companies' financial support of the government links them to the regime’s ongoing human rights abuses."
Referring to the Guiding Principles on Business and Human Rights, endorsed in June by the United Nations Human Rights Council, Bichta continued, "Companies must show they are respecting human rights and act towards mitigating human rights impacts even if they have not contributed directly to them."
In February, 26 institutional investor members of CRN called on oil companies to stop payments to the Libyan government, where conflict between the government and rebels has raged since January. According to CRN's press release on Syria, oil firms in Libya "scaled down operations and evacuated staff immediately following uprisings in February."
News
4 April 2008
Giant New Zealand fund joins cluster bomb boycott
3 April 2008
Do Your Proxy Votes Really Count?
2 April 2008
Three New SRI Funds from Pax World
27 March 2008
Are Alcohol Screens Outdated?
26 March 2008
US Debate heats up over business impact of climate change law
26 March 2008
The Co-operators Group Ltd. Studies Impacts of Future Climate and Social trends on Insurance Industry
26 March 2008
Patagonia Takes Next Step in Corporate Transparency and Accountability
25 March 2008
ICCR Defines the Past, Present, and Future of Shareowner Activism
23 March 2008
Good Sustainability Reporting but not True Sustainability
20 March 2008
New Coal Plants: At What Cost?
[
1
][
2
][
3
][
4
][
5
][
6
][
7
][
8
][
9
][
10
][
11
][
12
][
13
][
14
][
15
][
16
][
17
][
18
][
19
][
20
][
21
][
22
][
23
][
24
][
25
][
26
][
27
][
28
][
29
][
30
][
31
][
32
][
33
][
34
][
35
][
36
][
37
][
38
][
39
][
40
][
41
][
42
][
43
][
44
][
45
][
46
][
47
][
48
][
49
][
50
][
51
][
52
][
53
][
54
][
55
][
56
][
57
][
58
][
59
][
60
][
61
][
62
][
63
][
64
][
65
][
66
][
67
][
68
][
69
][
70
][
71
][
72
][
73
][
74
][
75
][
76
][
77
][
78
][
79
][
80
][
81
][
82
][
83
][
84
][
85
][
86
][
87
][
88
][
89
][
90
][
91
][
92
][
93
][
94
][
95
][
96
][
97
][
98
][
99
][
100
][
101
][
102
][
103
][
104
][
105
][
106
][
107
][
108
][
109
][
110
][
111
][
112
][
113
][
114
][
115
][
116
][
117
][
118
][
119
][
120
][
121
][
122
][
123
][
124
][
125
][
126
][
127
][
128
][
129
][
130
][
131
][
132
][
133
][
134
][
135
][
136
]
Sustainable Investment Research Platform
Provided by Webforum