In response to the ongoing violent crackdown against civilian protestors by the Syrian government, Domini has joined a group of institutional investors calling on publicly traded oil companies to stop fueling the violence. The group of investors — the Conflict Risk Network (CRN) — has called on the oil companies to either halt operations in the country or at least issue statements to the Syrian regime condemning the violence.
In February, we signed a joint letter issued by CRN to oil and gas companies operating in Libya. CRN offered a proposal for a joint escrow account to hold payments that firms would otherwise make to Qaddafi or the National Oil Company. In August, we participated in a letter to Italian oil firm Saras S.p.A., urging it to ensure its products do not facilitate violence committed by Muammar Qaddafi’s regime in Libya.
Domini is a founding member of the Conflict Risk Network, and a member of the organization’s advisory board. CRN seeks to leverage the more than $500 billion in combined assets of its institutional investor members to address mass atrocities and avoid genocide in conflict zones around the world through in-depth research on corporate activity in these regions and direct engagement with companies.
- CRN Press Release on Libya
- CRN Press Release on letter to Italian oil company, Saras
- Investor Letter to Saras
Saras S.p.A is not currently approved for investment by the Domini Funds.