UBS's relationship with PetroChina


UBS is not only a large investor in PetroChina, but also was the lead underwriter raising $8.94 billion of capital for PetroChina in a public offering in Shanghai.
  • Click here for the October 22, 2007, letter in The Times asking UBS to demand an ethical policy from PetroChina, signed by Nobel laureates Elie Wiesel, Jody Williams, Betty Williams, plus Mia Farrow, Ruth Messinger, Justice Richard Goldstone, and Mukesh Kapila.
  • Click here for a story on the Shanghai public offering.  Click here for more press reports.

Take action and object to UBS investing in companies that fund the genocide in Darfur

  • Click here to send an email to UBS (and copy us). Sample text to consider:

    I am very troubled that the firm I have chosen to manage my savings invests in and substantially supports companies funding the genocide in Darfur, Sudan. Years after the genocide was publicly acknowledged, I learn that I am unknowingly and inadvertently connected to the genocide by investing with your firm. I am deeply disappointed to have trusted your firm and been put in this compromising position.

    I want my savings and investment firm to be genocide-free. I do not want to invest in companies that substantially contribute to genocide, patterns of extraordinary and egregious violations of human rights, or crimes against humanity. Without a commitment regarding future investments I will remain at risk of funding genocide in the future. It is important to me that I avoid being connected in any way to the worst violations of human rights on the planet.

    Please immediately divest your current holdings in PetroChina, Sinopec, ONGC, and/or Petronas since these are the worst offenders in the current Darfur genocide. Looking forward, please adopt an ethical policy that will avoid such investments in the future. If you fail to quickly take these steps, I will move my savings elsewhere.
  • Click here if the automated email didn't work or if you want to contact the company by phone or mail.
  • Click here to join Elie Wiesel and other Nobel laureates and ask UBS to use their unique position to pressure PetroChina to stop supporting human rights abuses in Sudan, and if the company is unresponsive, drop the IPO.

UBS's holdings

  • UBS held 1,014,262,379 H share equivalents, worth $2.19 billion, as of October 12, 2007 (valued at $2.16/share).
  • Click here for the filing on the Hong Kong Stock Exchange.