In spite of a human rights screening policy, Vanguard continues to invest in oil companies that help to fund the ongoing genocide in Darfur Sudan, according to a recent Associated Press column on mutual funds.
In contrast, a shareholder proposal now being voted on by Vanguard customers would “go further than the company’s screening policy, requiring Vanguard to ‘institute procedures to prevent holding investments in companies that, in the judgment of the board, substantially contribute to genocide or crimes against humanity,’” says the article.
Vanguard claims that its policy and the one proposed by the shareholder proposal are “substantially identical.” To me, they seem “substantially different.” That’s why, as a Vanguard customer, I voted “yes” on Question 3 on my proxy ballot.
Read more about the vote at Vanguard and how you can help promote genocide-free investing at the Investors Against Genocide website.
Tags: Vanguard