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March 10 , 2008

Smith College Revises List of Companies Banned from Investment based on Sudan Genocide

NORTHAMPTON, Mass. – Carrying out its commitment to periodically review the list of companies it has banned from investment based on its opposition of the Sudanese government's campaign of genocide, Smith College's Board of Trustees adopted several revisions to the list at its March meeting.

The revisions were offered by the board’s Committee on Investor Responsibility (CIR), which is charged with monitoring social issues related to the college’s endowment and advising the board on responsible investing, in recognition of the fact that companies may alter their business in the Sudan over time.

As of March 8, 2008, Smith College’s “Do Not Acquire” list includes the following 26 firms:

  • Alstom of France
  • Al-Thani Investment (United Arab Emirates) and oil subsidiary African Arabian Petroleum
  • AREF Investment Group of Kuwait
  • Bauer AG (Germany)
  • Bharat Heavy Electricals of India
  • China National Petroleum Corporation, the parent company of PetroChina and CNPC Hong Kong
  • Dongfeng Automotive Company Limited of China
  • Electricity Generating Company a.k.a. EGCO of Thailand
  • Harbin Power Equipment of China
  • Indian Oil Corporation Ltd. a.k.a. IOCL of India
  • Kejuruteraan Samudra Timur Berhad of Malaysia
  • Kencana Petroleum Berhad of Malaysia
  • Kuwait Foreign Petroleum Exploration Company a.k.a. Kufpec
  • Lundin Petroleum of Sweden
  • Muhibbah Engineering Berhad of Malaysia
  • Norinco a.k.a. China North Industries Corporation, which is available to U.S. investors through Qualified Foreign Institutional Investors (QFIIs)
  • Oil and Natural Gas Company (ONGC) of India and Mangalore Refinery and Petrochemicals Ltd., a publicly-traded subsidiary
  • PECD Berhad of Malaysia
  • Petrofac of the United Kingdom
  • Petronas/Petronas Capital Limited of Malaysia, and its publicly-traded subsidiaries Petronas Gas, Petronas Dagangan, MISC Berhad
  • Ranhill Berhad (Malaysia)
  • Reliance Industries of India and Reliance Energy, Reliance Capital Venture, Reliance Communications, Reliance Natural Resources
  • Scomi of Malaysia
  • Sinopec Corporation, a.k.a. China Chemical and Petroleum Corporation and Sinopec Shanghai Petrochemical Co. Ltd., Sinopec Corp., Sinopec Group
  • Sudan Telecommunications Company a.k.a. Sudatel of Sudan
  • Wartsila Oyj (Finland)


Office of College Relations
Smith College
Garrison Hall
Northampton, Massachusetts 01063

Marti Hobbes
News Assistant
T (413) 585-2190
F (413) 585-2174

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