There was a time when more funds seemed attuned to the international political and ethical implications of their investments. Recall the pressure for companies to divest from countries such as apartheid-era South Africa. We still hear similar calls, but the fund industry itself did not seem to make such action a high priority.

TIAA-CREF, however, could set a new pace. It's become the first large U.S. fund company to sell off its shares in a group of Asian energy companies due to human rights concerns in Sudan. Recall the country has been accused of war crimes. Some have charged that fees paid by foreign companies help prop up the current government. The group sold shares of China 's PetroChina, CNPC Hong Kong and Sinopec, and Oil and Natural Gas of New Delhi. Some would like to think that this represents a milestone. But it remains to be seen if other institutions follow suit.

For more:
- here's the Reuters article