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Rating:Vanguard on Darfur: Discussion over Divestment
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Wednesday, October 31, 2007

Vanguard on Darfur: Discussion over Divestment

by: Neil Anderson, Managing Editor

The Valley Forge, Pennsylvania-based index fund giant faced pressure from the same activists who targeted Fidelity earlier this year, and they haven't exactly given in. The Philadelphia Inquirer's Harold Brubaker reports that Vanguard has not sold its funds stakes in Oil & Natural Gas Corp. Ltd. and PetroChina, two energy companies that do business in Darfur. The fund firm instead decided to write to companies with activities in Darfur to ask them to help with "constructive and positive change" in the region. Of course, since Vanguard's funds are index funds, the Save Darfur Coalition's efforts might be better spent lobbying the firms that create the indexes themselves, Daniel P. Wiener of the Independent Adviser for Vanguard Investors pointed out. 

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