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

Lynne Miller
Patricia DeLuca
Wanda Roach
Teresa Robinson
Yu Ding
Stephen Alamango
Jodean Marks
Michelle Nelson
Eilene Janke
Charles Riddle
Blake Pruitt
Barbara Blackwood
Ginger Comstock
Gerry Milliken
Michael Miller
marilyn shup
André Trilling
Cynthia Zaferatos
Stephen Dutschke
John Dalla
Chris Byknish
mohammed khaku
Brandon Kozak
Aleks Kosowicz
Marybeth Webster
Susan Rautine
Chuck Graver
Randall Webb
Karen Hedwig Backman
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Comments

  • Lynne Miller
    signed 2019-11-06 15:23:44 -0500
  • Patricia DeLuca
    signed 2019-11-06 15:23:41 -0500
  • Stephen Alamango
    @AlamangoStephen tweeted link to this page. 2019-11-06 15:23:38 -0500
    Saudi Arabia—the country that tortures women activists, bombs children, & chops up journalists—is about to offer shares in its oil company, the single largest polluting company in the world. Tell Banks not to invest! #YemenCantWait #BoycottSaudiAramco https://www.codepink.org/aramco?recruiter_id=863496
  • Wanda Roach
    signed 2019-11-06 15:23:37 -0500
  • Teresa Robinson
    signed 2019-11-06 15:23:35 -0500
  • Yu Ding
    signed 2019-11-06 15:23:29 -0500
  • Stephen Alamango
    signed 2019-11-06 15:23:26 -0500
  • Jodean Marks
    signed 2019-11-06 15:23:23 -0500
  • Michelle Nelson
    signed 2019-11-06 15:23:19 -0500
  • Eilene Janke
    signed 2019-11-06 15:23:19 -0500
  • Charles Riddle
    signed 2019-11-06 15:23:18 -0500
  • Blake Pruitt
    signed 2019-11-06 15:23:16 -0500
  • Barbara Blackwood
    signed 2019-11-06 15:23:15 -0500
  • Ginger Comstock
    signed 2019-11-06 15:23:13 -0500
  • Gerry Milliken
    signed 2019-11-06 15:23:12 -0500
  • Michael Miller
    signed 2019-11-06 15:22:58 -0500
  • marilyn shup
    signed 2019-11-06 15:22:56 -0500
    Marilyn Shup
  • André Trilling
    signed 2019-11-06 15:22:54 -0500
  • Cynthia Zaferatos
    signed 2019-11-06 15:22:53 -0500
  • Stephen Dutschke
    signed 2019-11-06 15:22:53 -0500
  • John Dalla
    signed 2019-11-06 15:22:52 -0500
  • Chris Byknish
    signed 2019-11-06 15:22:48 -0500
  • mohammed khaku
    signed 2019-11-06 15:22:47 -0500
  • Brandon Kozak
    signed 2019-11-06 15:22:40 -0500
  • Aleks Kosowicz
    signed 2019-11-06 15:22:39 -0500
  • Marybeth Webster
    signed 2019-11-06 15:22:38 -0500
    Marybeth Webster
  • Susan Rautine
    signed 2019-11-06 15:22:37 -0500
  • Chuck Graver
    signed 2019-11-06 15:22:37 -0500
  • Randall Webb
    signed 2019-11-06 15:22:36 -0500
  • Karen Hedwig Backman
    signed 2019-11-06 15:22:35 -0500
//
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