On May 4th, Ukrainians were joined by the Wall Street “Fearless Girl” to call for more transparency on companies continuing to do business in russia. Razom organized a silent “Save the Children!” Protest, whose message is simple – by continuing to do business in russia, companies are feeding the war machine and killing more Ukrainian children. Protestors held the signs like “Stop funding putin’s war!”, “Boycott Business With russia” as well as QR codes with links to websites tracking russia “remainders”, such as Yale russia list, Boycott russia, Stop Business With russia (SBWr), Squeezing putin, Don’t Fund War and Exit russia.
Photos by George de Castro-Dayemail@example.com
Razom business advocacy team has been collaborating with some of these initiatives to bring attention to the companies still paying their tax dollars stained by blood. The protests are happening in different corners of the US and the world. Stop Business With russia activists have written more than 300 emails to company CEOs, investor relations and shareholders urging them to get out of russia. Ukrainian financial analysts are pouring over quarterly earnings reports to see that the companies are following their public announcements and are indeed leaving russia. The pressure is on!
Razom is proud to be part of the effort for more transparency – we joined the Ukrainian American Bar Association, and Natalie Jaresko (former Minister of Finance of Ukraine) in submitting The Russia Disclosure rulemaking petition to U.S. Securities and Exchange Commission requiring US public companies to disclose their business with/within russia and Belarus. The petition 4-784 is now available on the U.S. Securities and Exchange Commission website. Our proposal, if adopted, will provide critical information for investors, who may prefer to distance themselves from the financing of war crimes entirely, and also evaluate the risks of further sanctions, boycotts, reputational/ESG risks, and increased costs stemming from continued operation in russia.
CALL TO ACTION: You can help make this common-sense disclosure a reality with ~10 minutes of your time:
1. SEND A LETTER TO THE SEC: Email a note explaining why you support the proposed Russia Disclosure to firstname.lastname@example.org. The subject line of your message MUST include the 4-784 file number for the petition. Ok to attach a PDF.
2. WRITE TO YOUR SENATORS / CONGRESS REPS (or better call them) – relevant contacts based on your address available here: https://lnkd.in/dR32pE96. Request/suggest that they: (A) Send a letter to the SEC in support of the Russia Disclosure Petition 4-784, and (B) Support or co-sponsor “H.R.7228 Reveal Risky Russia Business Act” introduced by Rep. Ritchie Torres (D-NY) on March 24 (https://lnkd.in/dPXjWEaq) or introduce their own bill.
As Andrii Galiuk from SBWr initiative explains: “Why is there both an SEC Petition and a Congress Act pursuing similar disclosure requirements? Good question. SEC can introduce a new disclosure requirement independent of Congress, solely based on the Petition, but it may also deny the petition and do nothing. Alternatively, US Congress can require SEC to introduce the disclosure – that’s how Conflict Minerals and Iran Business disclosures came to be. Of course, Congress requiring the disclosure in a bill would be optimal. But for now, both paths are viable and worth pursuing”.
3. SHARE THIS WITH YOUR NETWORK on social media. Tag political and civic leaders, and journalists who can help raise awareness.