US - Divesting money from Sudan is impractical and would not serve any meaningful purpose at present, said Ken Sylvester, assistant comptroller for pension policy at the NYC comptroller's office.
Sylvester stressed the comptroller’s office was respectful of the decision for US funds to divest from the genocide-linked region, but added: “We do not believe at this point in time that divestment will serve any meaningful purpose.”
He said simply divesting shares and walking away from a company was unlikely to bring relief or help to people suffering in the region, and added that many of those shares would simply be bought by someone else.
“It is not a practical choice at this point in time,” he said.
Sylvester made the statement to Global Pensions after Comptroller William C. Thompson, speaking as the custodian and investment advisor to the New York City pension funds urged companies with business ties to Sudan to become actively involved in supporting peace efforts.
Sylvester claimed companies with business ties to Sudan were in a position to use their influence with the Sudanese government to pressure them to live up to it’s commitment to disarm the rebel groups.
“Companies do have some leverage, and can use it either jointly or individually by reaching out to the Sudan government and asking them to reach a peace agreement.”
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