Boycott Saudi Aramco IPO

On Sunday November 3, 2019, Saudi Arabia announced that it it will be going forward with its first public share offering of its state-owned oil firm Saudi Aramco.

The prospectus is expected to be released on November 9 and shares should start trading on Saudi’s domestic stock exchange in December. Aramco, the world’s #1 climate polluting company, will likely offer 1-2 percent of its shares for sale, raising as much as $20-$40 billion in a nasty marriage of carbon and cash.

Tell the international banks — JPMorgan, Morgan Stanley, Goldman Sachs, Bank of America, Merrill Lynch, Citigroup, HSBC and Credit Suisse — working on the deal: Don’t buy stock in environmental destruction, war crimes and human rights abuses.


Dear JPMorgan, Morgan Stanley, Goldman Sachs, Bank of America, Merrill Lynch, Citigroup, HSBC and Credit Suisse,

As people concerned with the planet and human life, we ask you to sever all involvement with Saudi Aramco and not purchase shares in the company.

A Human Rights Watch (HRW) report released on November 4, 2019 documents that Saudi Crown Prince Mohammed bin Salman (MbS) is anything but a reformer and has been carrying out some of the most brutal repression in the kingdom's history.

MbS’s promotion to de facto ruler in 2017 was followed by waves of political arrests starting with “prominent clerics, public intellectuals, academics and human rights activists” then “businesspeople and royal family members.” In May 2018, Saudi Arabia arrested 19 women’s rights activists who had campaigned successfully for the right to drive. A number of these women, including Loujan al-Hathloul, are still languishing in prison, enduring horrific torture and abuse, including electroshock, waterboarding, and sexual abuse.

MbS was also responsible for the grotesque murder of Washington Post journalist Jamal Khashoggi and has never been held accountable.

While arresting peaceful domestic critics is nothing new for Saudi Arabia, according to Human Rights Watch, MbS’s rule stands out due to the “sheer number and range of individuals targeted over a short period of time, as well as the introduction of new repressive practices not seen under the previous Saudi leadership.”

MbS is also responsible for dragging the kingdom into Yemen’s internal conflict, causing the world's worst humanitarian crisis. In Yemen today, the situation is so severe that every 10 minutes, a child dies from the effects of war and hunger. Saudi Arabia drops bombs on Yemeni school children, on Yemeni hospitals, marketplaces, residences—even on weddings and funerals.

Saudi Aramco is the world’s biggest climate polluter, having contributed 59 billion tons of CO2 since 1965, a third more than any other oil company. In October 2019, 10 environmental groups signed a joint letter asking you not to participate in Aramco’s Initial Public Offering (IPO). “This IPO will be a boost to a planet-wrecking company linked to a regime with a dubious human rights record,” said senior campaigner for Global Witness Adam McGibbon. Eleven thousand scientists in 153 countries have declared that the climate is in a state of emergency that will result in “untold human suffering” unless massive shifts occur in the way humans live. Given the climate crisis, Saudi Arabia’s war crimes in Yemen, and human rights abuses against women, journalists, dissidents, and others, it would be enormously reckless for you to invest in Saudi Aramco.

Please act responsibly by refusing to work with or purchase shares of Saudi Aramco.

Sincerely,

Who's signing

Lara Backman
janet uffer
Nancy Stamm
Heidi Hoffmann
Patrick J Mitchell
Lauren Silinonte
Niclas Nolberger
William Van Wyke
Glen Anderson
Jessica Wardlaw
Bert Troubleyn
Lyle Courtsal
Kris Montgomery
Tara Tyger
Anna Valente
Mary Ann Cramer
Cesar Munoz
Rev. Richard Gibson
Elizabeth Williams
Ziad Rizk
M Bergs
Nicole Caraoue
Norda Gromoll
Matthew Watts
Carol Workman
Lisa Anderson
Janine Vinton
Matthew Walker
paula moats
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Comments

  • Lara Backman
    signed 2019-11-21 01:53:08 -0500
  • janet uffer
    signed 2019-11-20 23:27:03 -0500
  • Nancy Stamm
    signed 2019-11-20 13:49:00 -0500
  • Heidi Hoffmann
    signed 2019-11-20 12:31:18 -0500
  • Patrick J Mitchell
    signed 2019-11-20 10:19:11 -0500
  • caveman's wife
    @laurensilinonte tweeted link to this page. 2019-11-20 08:05:05 -0500
    Saudi Arabia—the country that tortures women activists, bombs children, & chops up journalists—is offering shares in its oil company, the single largest polluting company in the world. Tell Banks not to invest! #YemenCantWait #BoycottSaudi https://www.codepink.org/aramco?recruiter_id=709598
  • Lauren Silinonte
    signed 2019-11-20 08:04:54 -0500
  • Niclas Nolberger
    signed 2019-11-20 05:35:51 -0500
  • William Van Wyke
    signed 2019-11-19 22:45:11 -0500
  • Glen Anderson
    signed 2019-11-19 19:48:26 -0500
    STOP THIS HORRIBLE SCHEME
  • Jessica Wardlaw
    signed 2019-11-19 13:57:11 -0500
  • Bert Troubleyn
    signed 2019-11-19 01:12:59 -0500
  • Lyle Courtsal
    signed 2019-11-18 14:34:46 -0500
    Phone is out. My drug war ebook is at www.3mpub.com. I am also measuring the worth and cultural diversity of mideast nations by how they treat their women. Afghanistan too. www.rawa.org You also have a lawsuit against the Capital police if they do not file charges against those Venezuelan thugs for Assault and Battery and Reckless Endangerment. Cease and Desist letter first? Lawyers anywhere? Back the murdering haters down. Lyle Courtsal
  • Kris Montgomery
    signed 2019-11-18 14:08:17 -0500
  • Tara Tyger
    signed 2019-11-18 12:05:18 -0500
  • Anna Valente
    signed 2019-11-18 11:44:10 -0500
  • Mary Ann Cramer
    signed 2019-11-17 23:02:03 -0500
  • Cesar Munoz
    signed 2019-11-17 21:08:46 -0500
  • Rev. Richard Gibson
    signed 2019-11-17 20:02:51 -0500
  • Elizabeth Williams
    signed 2019-11-17 19:51:39 -0500
  • Ziad Rizk
    signed 2019-11-17 17:14:55 -0500
  • M Bergs
    signed 2019-11-16 22:49:49 -0500
  • Nicole Caraoue
    signed 2019-11-16 13:28:16 -0500
  • Norda Gromoll
    signed 2019-11-16 13:16:45 -0500
    Norda Gromoll
  • Matthew Watts
    signed 2019-11-16 12:26:52 -0500
  • Carol Workman
    signed 2019-11-16 10:22:42 -0500
  • Lisa Anderson
    signed 2019-11-16 07:31:56 -0500
  • Janine Vinton
    signed 2019-11-16 02:58:41 -0500
  • Matthew Walker
    signed 2019-11-16 01:54:22 -0500
  • paula moats
    signed 2019-11-16 00:13:21 -0500
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