On May 17, shareholders at JPMorgan Chase will vote on whether or not the company should make an effort to avoid investments in companies that substantially contribute to genocide or crimes against humanity.
The choice seems obvious. But JPMorgan Chase (JPM) opposes the proposal and tells shareholders that they should vote against it. JPM says it already factors human rights issues into its decision-making, even though it owns about 5% of the outstanding shares of PetroChina, worth $1.3 billion. PetroChina, through its closely related parent, China National Petroleum Company, is internationally recognized as the worst offender helping fund the Government of Sudan's genocide in Darfur.
You can help influence JPMorgan Chase on this important issue. Are you a JPMorgan customer? Do you have a Chase credit card or bank account? If not, you are still a potential customer. Your opinion matters to JPMorgan Chase.
Research has shown that Americans are overwhelmingly opposed to having their savings tied to genocide. Your voice matters.
Please sign the petition telling Jamie Dimon, the head of JPM, that the public wants the company to adopt a genocide-free investing policy. Read more details about this important vote here.
You’ve said, “JPMorgan Chase’s support for the protection and preservation of human rights reflects our core values” and that JPMorgan Chase is “dedicated to exemplifying good corporate citizenship through our commitment to respecting human rights and through our broader commitment to corporate responsibility generally.”
We support your statements, which is why we ask JPMorgan Chase to adopt the genocide-free investing policy called for in the proxy ballot for the 2011 annual meeting. Currently, JPMorgan Chase is opposing the proposal, implying that it is important to the company to maintain its flexibility to invest in companies connected to genocide.
Research has shown that 88% of Americans do not want any financial ties to companies, such as PetroChina, that help to support genocide. Since that overwhelming support for genocide-free investing may not be reflected in proxy voting by your institutional shareholders, I am writing to you directly.
Please be aware that your action in this matter will influence my opinion of your firm and my decisions regarding doing business with JPMorgan Chase.