Fidelity misses a golden opportunity
May 21, 2007

I am heartened that Fidelity Investments has drastically reduced its holdings of shares in two Chinese oil-producing corporations whose dealings with the Sudanese government are fueling atrocities in the Darfur region. However, I am puzzled by Fidelity's statement that the sale of stock in PetroChina and Sinopec should not be interpreted as a political message about the grave humanitarian crisis in Darfur ("Fidelity says it did not divest for Darfur," Business, May 17).

We believe Fidelity has a unique opportunity to send a message to Sudanese President Omar al-Bashir that there are financial consequences for his actions in supporting the ethnic cleansing that our own government has labeled genocide. Fidelity should be taking the lead in sending a message to China about its continued financial support for the Sudanese government . The company is wasting a great opportunity to make such a political statement while protecting the financial interests of its investors.

If there is no corporate policy about abetting genocide, then it would appear that Fidelity's fund managers have made independent and moral decisions on their own. Good for them!

CHARLIE CLEMENTS
President and CEO
Unitarian Universalist Service Committee
Cambridge