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Demand that the Nation's Largest Pension Fund Boycott World Bank Bonds!
Please Note: This action has been
discontinued.
Thank you for your support!
Company Online Stock Trading Protesters from around the world will gather in Ottawa, Canada for the postponed annual meetings of the World Bank and International Monetary Fund from November 17-18. Demonstrators will once again raise their voices for global justice, and demand that the World Bank and IMF:
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What Is Institutional Sponsorship There' institutional investors. These are the mutual funds, pension funds, banks and other financial institutions that do the bulk of stock trading on any given day. It is estimated institutions account for about 70% of all trading activity. So when institutions target a stock for purchase, it's more likely to go up in price thanks to the increased demand they create. This professional stock buying is called institutional sponsorship.
Online Trading Stock And End policies that hinder access to food, clean water, shelter, health care, education, and the right to organize
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- ADRs or American Depository Receipts act as a proxy for foreign stock shares, but are issued in dollar value.
- Closed end funds are like a cross between mutual funds and ETFs which trade like stocks but are a collection of stocks from one country. For example, IFN is a closed end fund for India and CAF is a closed end fund for China. Both invest invest 100% in their countries but are managed by an American investment company and trade on the NYSE.
. They trade like stocks, in diversity.
Stock Investing Course Stop all support for socially and environmentally destructive projects such as oil, gas, mining, and dams
"I want to see California in the best position to reap the benefits of this growing sector of the global economy, " Angelides said in an interview. The California Public Employees' Retirement System, the nation's largest pension fund, voted in March to invest $200 million in clean technology startups, and agreed this month to pump $500 million into environmentally responsible stocks and mutual funds.
Stock System Trading Meanwhile, a growing campaign, the World Bank Bonds Boycott, is taking the movement from the streets to the suites in its call for institutional investors -- including pension funds, city councils, churches, unions, and universities -- to commit not to invest in the bonds that provide 80% of the World Bank's funds, until the World Bank meets these demands.
The boycott was launched because, while the World Bank has adopted new rhetoric, - - have remained largely unchanged, plundering environments and economies of poor countries. The campaign demands that the World Bank halt its devastating structural adjustment lending and cancel debt claims it has on countries in the Global South. The World Bank gets 80% of its financing through bond sales on private financial markets to institutional investors and others. The World Bank Bonds Boycott was launched in April at the time of the spring meetings of the IMF and World Bank in Washington. Human rights, environmental, labor and development groups in over 35 countries support the campaign.
Stock Investing Game TIAA-CREF is the largest pension fund in the U.S., and it holds approximately $5 million in World Bank bonds. At its annual meeting in New York City on November 13, TIAA-CREF was challenged by protesters demanding that it get out of World Bank bonds and instead invest its money more responsibly.
There are other ways to invest in stocks. Dividend Reinvestment Plans (DRIPS) allow you to buy a single share of stock. As that share earns dividends, those dividends are used to buy additional shares. There are index mutual funds, in which you own a little bit of every stock traded on a particular index. There are also traditional mutual funds, made up of an array of stocks across many industries.
Market Stock Trading Please send a fax or letter today to TIAA-CREF chairman and CEO John Biggs, and Chief Investment Officer Martin Leibowitz, asking that TIAA-CREF adopt a policy not to invest in World Bank Bonds. If you are a member of TIAA-CREF, be sure to indicate this in your letter.
Online Stock Trading Canada For more information on the World Bank Bonds Boycott, see
www.worldbankboycott.org
Fax Numbers
Stock Investing Basics Biggs' office: 1-212-916-6231
Liebowitzs' office: 1-212-916-5385
Sample Letter
Day Online Stock Trading John H. Biggs, Chairman, CEO and President
Martin Leibowitz, Chief Investment Officer
TIAA-CREF
730 3rd Ave.
New York, NY 10017
Online Stock Trading Game Dear Mr. Biggs and Mr. Leibowitz,
Stock Investing Software I write to you to request that TIAA-CREF adopt a policy against investing in bonds issued by the World Bank (the International Bank for Reconstruction and Development, or IBRD), and instead invest in bonds that promote social good.
Online Option Stock Trading I understand that in your Bond Market Account you have approximately $5 million in IBRD bonds. I urge you to join the World Bank Bonds Boycott, which mobilizes institutional investors in 35 countries to agree not to invest in World Bank bonds until the Bank reforms its policies.
India Online Stock Trading The World Bank is one of the most powerful financial institutions in the world. It raises roughly $20 billion on the bond market every year. People in the global South struggle every day with programs imposed upon them by the Bank. These programs limit poor peoples' access to health care, clean water, and education.
Stock Investing For Dummy Many of the largest socially responsible investment firms in the US -- including Calvert Group, Citizens Funds, Harrington Investments, Progressive Assets Management, Trillium Assets Management, Pax World Fund Family, and Parnasssus Investments -- have already agreed to boycott World Bank bonds. Indeed, screening against purchasing World Bank bonds has become standard practice among socially conscious investors. Five U.S. cities, thirteen unions, and nine religious groups and Catholic communities have also committed not to purchase World Bank bonds. Students on dozens of campuses across the U.S and Canada are working to get their universities to sign on. The effort is already causing the World Bank to feel direct political and financial pressure to change its policies.
Software Stock Trading Even if TIAA-CREF does not feel compelled to adopt a policy against buying World Bank bonds for the reasons listed above, I would urge you to do so for purely financial reasons. As the boycott of World Bank bonds grows, the campaign is putting pressure on the Bank's AAA rating and could drive it down, making World Bank bonds a risky security for TIAA-CREF to hold.
Online Stock Trading Review I encourage you instead to look into investing positively in bonds that promote social good. Thank you for considering my request, and I look forward to receiving your response.
Stock Investing Tip Sincerely,
Comparison Online Stock For more information about the boycott, contact:
Online Stock Trading Site World Bank Bonds Boycott
Center for Economic Justice
1830 Connecticut Ave., NW, 4th floor,
Washington, DC 20009
Tel: (202) 299-0020 / Fax: (202) 299-0021
Web: www.worldbankboycott.org
Online Stock Investing To receive occasional updates on the World Bank Bonds boycott, join our listserve:
Canada Online Stock Trading Send blank e-mail to bank-boycott-subscribe@yahoogroups.com
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