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Ch. 39
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2007 Laws of Maryland
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sexual violence committed by the Janjaweed and associated militias with the
complicity and support of the National Congress Party-led faction of the Government
of Sudan"; and
WHEREAS, On September 26, 2006, the United States Congress stated that "an
estimated 300,000 to 400,000 people have been killed by the Government of Sudan and
its Janjaweed allies since the Darfur crisis began in 2003, more than 2,000,000 people
have been displaced from their homes, and more than 250,000 people from Darfur
remain in refugee camps in Chad"; and
WHEREAS, The Darfur crisis represents the first time the United States
Government has labeled ongoing atrocities a genocide; and
WHEREAS, The federal government has imposed sanctions against the
Government of Sudan since 1997, that are monitored through the United States
Treasury Department's Office of Foreign Assets Control (OFAC); and
WHEREAS, According to a former chair of the United States Securities and
Exchange Commission (SEC), "the fact that a foreign company is doing material
business with a country, government, or entity on OFAC's sanctions list is, in the SEC
staffs view, substantially likely to be significant to a reasonable investor's decision
about whether to invest in that company"; and
WHEREAS, Since 1903, the United States Secretary of State has determined
that Sudan is a country the government of which has repeatedly provided support for
acts of international terrorism, thereby restricting United States assistance, defence
exports and sales, and financial and other transactions with the Government of
Sudan; and
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WHEREAS, A 2006 United States Congressional report states that "a
company's association with sponsors of terrorism and human rights abuses, no matter
how large or small, can have a materially adverse result on a public company's
operations, financial condition, earnings, and stock prices, all of which can negatively
affect the value of an investment"; and
WHEREAS, In response to the financial risk posed by investments in companies
doing business with a terrorist-sponsoring state, the SEC established its Office of
Global Security Risk to provide for enhanced disclosure of material information
regarding such companies; and
WHEREAS, The current Sudan divestment movement encompasses nearly 100
university, city, state, and private pension plans; and
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- 826 -
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