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

T Hamboyan Harrison
Sarah Perrigo
Timothy Lippert
Meaghan Simpson
James Wilkinson
anna coccia
Diane Middleton
Adam Izak-Sunna
John Miate
Paul Swanke
Cheryl Van Epps
Mira Chaairate
John Bromer
Alan Musry
Sharron Williams
Joan French
Nancy Camorati
Bobbie Flowers
dimitris kiachidis
Florence Germain
Germana Zanin
Sherri Hilario
Anmol Malhotra
vahid pooya
Anne Huckins
Charles Kelley
Britta Olinder
Marla Costanzo
Raghida Kayyali
2,451 signatures

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Comments

  • T Hamboyan Harrison
    signed 2019-11-08 10:32:53 -0500
  • Sarah Perrigo
    signed 2019-11-08 10:28:12 -0500
  • Timothy Lippert
    signed 2019-11-08 10:19:32 -0500
  • Meaghan Simpson
    signed 2019-11-08 09:44:07 -0500
  • James Wilkinson
    signed 2019-11-08 09:44:01 -0500
  • anna coccia
    signed 2019-11-08 09:15:46 -0500
  • Diane Middleton
    signed 2019-11-08 09:11:34 -0500
    JP Morgan is my broker. i strongly urge them not to invest in aramco
  • Adam Izak-Sunna
    @Epsilonm tweeted link to this page. 2019-11-08 08:24:03 -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=477802
  • Adam Izak-Sunna
    signed 2019-11-08 08:23:50 -0500
  • John Miate
    signed 2019-11-08 08:22:33 -0500
  • Paul Swanke
    signed 2019-11-08 08:11:53 -0500
  • Cheryl Van Epps
    signed 2019-11-08 07:53:55 -0500
  • Mira Chaairate
    signed 2019-11-08 07:52:22 -0500
  • John Bromer
    signed 2019-11-08 07:44:50 -0500
    Get out of these poisonous regimes.
  • Alan Musry
    signed 2019-11-08 07:37:32 -0500
  • Sharron Williams
    signed 2019-11-08 07:36:53 -0500
  • Joan French
    signed 2019-11-08 07:32:29 -0500
  • Nancy Camorati
    signed 2019-11-08 07:27:51 -0500
  • Bobbie Flowers
    signed 2019-11-08 07:27:17 -0500
  • dimitris kiachidis
    signed 2019-11-08 07:26:13 -0500
  • Florence Germain
    signed 2019-11-08 07:23:48 -0500
  • Germana Zanin
    signed 2019-11-08 07:08:49 -0500
  • Sherri Hilario
    signed 2019-11-08 06:44:32 -0500
  • Anmol Malhotra
    signed 2019-11-08 05:14:35 -0500
    Please stop the suffering.
  • vahid pooya
    signed 2019-11-08 04:38:31 -0500
  • Anne Huckins
    signed 2019-11-08 04:22:06 -0500
    Anne L Huckins
  • Charles Kelley
    signed 2019-11-08 04:06:42 -0500
  • Britta Olinder
    signed 2019-11-08 03:52:12 -0500
  • Marla Costanzo
    signed 2019-11-08 03:03:04 -0500
    I’m truly disgusted. What will your legacy be? It’s not too late.
  • Raghida Kayyali
    signed 2019-11-08 02:49:09 -0500
//
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