The horrific mass murder at Sandy Hook Elementary School in Newtown, Connecticut was a wake-up call for our nation, and underscored a growing epidemic of gun violence that threatens every American.
In the weeks following this tragedy, then New York City Public Advocate (now Mayor) Bill de Blasio and elected officials across the country launched a national divestment campaign to urge hedge funds and money managers to divest from the manufacturers of assault weapons and high-capacity ammo clips. Gun violence prevention advocates from across the country joined this effort, making phone calls, sending letters, and leading protests at the offices of the nation’s largest gun investors.
The divestment campaign has quickly proven that public pressure can be a game-changer. Since first launching the divestment campaign against manufacturers of assault weapons and high-capacity ammo clips, ten hedge funds and money managers have completely divested their gun holdings, valued at $170 million. Twelve more firms have scaled back their gun investments by 5.7 million shares—25 percent of their holdings.
The Campaign to Unload is comprised of 50 leaders and organizations representing more than 20 million Americans from across the country.