80th Legislature: Requiring Pension Funds To Divest From Companies Doing Business In Darfur

A bi-partisan coalition including State Sen. Rodney Ellis (D-Houston), Rep. Corbin Van Arsdale (R-Houston), and Railroad Commissioner Michael Williams (a Republican) is joining forces to support HB 247 and other allied legislation that would reqire the state’s pension and investment funds to divest in companies doing business in the Darfur region of Sudan.

The “Stop the Darfur Genocide Act,” would put Texas in line with several other states and private institutions like Yale University, which have already taken or are considering similar actions. A total of six states have already inacted such legislation, and 20 others (including Texas) are considering such legislation.

Texas could have as much as $100 million invested in the region through various funds.
The Texas legislation would require divestment from any of 39 companies listed as aiding in “state-sponsored terrorism.” Non are U.S. Companies.
Tracking down a list of companies online isn’t easy. A University of California publication indicates larger numbers of companies investing in the region, but doesn’t name them or indicate if they are involved in state-sponsored terrorism. Otner online listings have mentioned compamoes like Bentini, Higleig, Hi-Tech Petroleum, Nam Fatt, Oil & Natural Gas Corporation, PetroChina and Sinopec. Again, it is unknown if these companies would mesh with that list of 39.