Ethical disinvestment (1) The campaign by the indigenous U’wa people of Colombia to prevent the Occidental oil company from drilling on their sacred tribal lands received a big boost this week when US financial outfit Fidelity Investments dumped 18 million shares in Occidental, worth over $412 million! The disinvestment followed actions by U’wa supporters who mobilised to shut down Fidelity offices, occupy the company’s investor centres, and dump blood and oil on their premises. Nice one - proving that people pressure can make big business back down! Next on the hit list is the Sanford Bernstein company - the largest institutional investor in Occidental Petroleum now that Fidelity have jumped ship. Rainforest Action Network www.ran.org
