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Corporate Social Responsibility
News
3.22.2006 ET
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CSR News from:
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Citizens Advisers Takes Steps to Support Sudan Divestiture
(CSRwire) BOSTON--(BUSINESS WIRE)--March 22, 2006--Citizens Advisers, the
investment manager to Citizens Funds, today announced that it has called
on companies within its portfolios to divest of business activities in
Sudan. Citizens is the first mutual fund management firm to call for
divestment from portfolio companies. Citizens is joining the growing group
of institutional investors who are seeking divestment of activities that
support the ruling Sudanese regime.
"We have taken this action in response to the deplorable actions of
the Sudanese regime. Exerting influence on the companies we hold in our
portfolios is a first step in support of the growing campaign to improve
the situation for innocent victims in Sudan," said Joanne Dowdell, Vice
President of Corporate Responsibility at Citizens Advisers.
According to the World Factbook,
(http://www.cia.gov/cia/publications/factbook/print/su.html),
Sudan is the site of an intense ethnic and economic conflict where militias
sponsored by the Arab controlled Sudanese government have driven non-Arab
Africans from their homes and property. The twenty year conflict has
resulted in the displacement of four million people and two million
deaths.
Citizens' decision reflects the sentiments of its Board of Trustees, a
body of primarily independent representatives of Citizens Funds
shareholders. "Citizens shareholders are looking for active ways to
participate in the divestment campaign and we wholeheartedly support
Citizens Advisers communication to companies doing business in Sudan,"
said Walter Bristol, Chair of Citizens Funds Board of Trustees. Letters
will be sent to the CEO's of approximately 20 companies. A copy of the
letter will be posted to Citizens' website and shareholders in Citizens
Funds will be invited to write their own urgings to these firms. "We
believe that encouraging companies to divest of their businesses in Sudan
has the potential to have the same tremendous positive impact as the South
Africa divestiture campaign of the 1990s. As investors there are few other
options available to address the horrific situation in Sudan," said Ms.
Dowdell.
About Citizens Advisers:
Founded in 1982, and with $850M in assets under management, Citizens
Advisers has been a thought leader in its approach to investment
management and socially responsible investing. With a core focus on
strong, long-term performance, Citizens' mission is to generate the best
possible returns for shareholders by investing in companies that are
fundamentally strong and socially responsible.
Citizens' unique investment management approach revolves around its
proprietary integrated research that takes into account financials, in
combination with all the variables that affect prospects for success and
growth over time. For more information, please visit, www.citizensfunds.com.
Please consider the investment objectives, risks, charges and expenses
of Citizens Funds carefully before investing. For this and other
information, please call 800-223-7010 or visit our website for a free
prospectus and read it carefully before investing.
Copyright Business Wire 2006
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