Sudan Investment Policy & Actions

In an effort to promote the development of peace in Sudan through economic means and reduce investment risk for our shareholders, Pax World supports targeted divestment. Pax World will endeavor to engage with companies in its portfolios that we suspect of having ties to Sudan.

At Pax World, companies that are determined to be providing support for civilians or humanitarian assistance, or working for peace in Sudan may continue to be held, as our goal is to apply economic pressure to the Sudanese government while not further harming civilians. Pax World will divest from companies that we believe meet the following criteria:

  • Have active business operations that involve contracts or operations with the government of Sudan, with companies in which the Sudanese government of has an equity share, or with government or Sudan-created consortiums or projects
  • Operate in Sudan but provide only minimal benefit to civilians
  • Operate in Sudan but lack human rights policies or controls

Pax World intends to review its policy on divestment in Sudan once the genocide has ceased, sanctions have been lifted, and cooperation with the international community has been restored.

Pax World reviews companies being considered for investment in the Funds, as well as current portfolio holdings, against the list of companies provided by the Sudan Divestment Task Force that are targeted for divestment. Presently, there are no companies in any Pax World Funds with involvement in Sudan that would require divestment according to Pax World’s criteria.

Pax World wrote to four companies held in the Funds – AstraZeneca, PepsiCo* (1.2% of Pax World Balanced Fund, 1.7% of Pax World Growth Fund), Procter & Gamble* (1.7% of Pax World Balanced Fund) and Toyota* (0.4% of Pax World Balanced Fund) – to ask about the nature of their involvement in Sudan. Each company responded to Pax World with sufficient information that Pax determined that their commercial involvement included social benefits and did not benefit the Sudanese government.

Pax World also recently divested Weatherford International upon determining that the company met the above divestment criteria.

Portfolio holdings are as of 9/30/07.