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

P. Sturm
s cook
Gigi Bell
Erica Stanojevic
Denise Romesburg
paul siemering
Daniel Linthicum
Kimber Kaushik
Jesse Scarlato
Faras Bilto
Tyler Dalzell
Allan Rubin
Steven Kroeger
Veronica Stein
Ann Kelly
Alema Saeed
Susan Sante
Mark Coats
Elaine Gerhardstein
Francisco Velez
Sabine Dohrn
Mary Bissell
carl tyndall
Donald Mackler
Suhail Shafi
Andrew Shapiro
Grace Payne
Melvin Turcanik
Linval DePass
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Comments

  • P. Sturm
    signed 2019-11-15 23:41:02 -0500
  • s cook
    signed 2019-11-15 16:26:27 -0500
  • Gigi Bell
    signed 2019-11-15 15:57:57 -0500
    Gigi Bell
  • Erica Stanojevic
    signed 2019-11-15 12:32:48 -0500
  • Denise Romesburg
    signed 2019-11-15 11:31:37 -0500
  • paul siemering
    signed 2019-11-14 21:49:12 -0500
  • Daniel Linthicum
    signed 2019-11-14 20:49:44 -0500
  • Kimber Kaushik
    signed 2019-11-14 12:09:21 -0500
    Kimber Kaushik
  • Jesse Scarlato
    signed 2019-11-14 11:26:47 -0500
  • Faras Bilto
    signed 2019-11-14 11:07:48 -0500
  • Tyler Dalzell
    signed 2019-11-14 10:19:24 -0500
  • Allan Rubin
    signed 2019-11-14 05:56:12 -0500
    Allan Rubin
  • Steven Kroeger
    signed 2019-11-13 23:20:15 -0500
  • Veronica Stein
    signed 2019-11-13 23:04:15 -0500
  • Ann Kelly
    @amerlekelly tweeted link to this page. 2019-11-13 18:08:41 -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=763727
  • Ann Kelly
    signed 2019-11-13 18:08:32 -0500
  • Alema Saeed
    signed 2019-11-13 17:04:17 -0500
  • Susan Sante
    signed 2019-11-13 16:12:28 -0500
    Don’t Invest my money in this dead industry, not a penny to these Saudis. I am watching.
  • Mark Coats
    signed 2019-11-13 14:28:46 -0500
  • Elaine Gerhardstein
    signed 2019-11-13 14:25:27 -0500
    It is appalling that the man who was hailed as the Saudi’s savior has turned out to be an amoral killer who cares nothing about the rights of Yemenis or anyone who disagrees with him. The role of Saudi Aramco in polluting the planet is a disturbing revelation for me. Please do not help finance this planet-destroying behemoth by investing in it. Billions of plants, animals and people will be destroyed!
  • Francisco Velez
    signed 2019-11-13 13:06:26 -0500
  • Sabine Dohrn
    signed 2019-11-13 12:34:27 -0500
  • Mary Bissell
    signed 2019-11-13 12:04:36 -0500
  • carl tyndall
    signed 2019-11-13 10:11:15 -0500
  • Donald Mackler
    signed 2019-11-13 08:33:13 -0500
  • Suhail Shafi
    signed 2019-11-13 04:10:57 -0500
  • Andrew Shapiro
    signed 2019-11-13 02:08:52 -0500
  • Grace Payne
    signed 2019-11-12 22:35:29 -0500
  • Melvin Turcanik
    signed 2019-11-12 21:52:35 -0500
  • Linval DePass
    signed 2019-11-12 18:35:33 -0500
//
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