New York State Comptroller Divests From Iran and Sudan

Martine Kaplan — July 2, 2009 – 12:41 pm | Economy | Foreign Policy | Iran Comments (0) Add a comment

In a press release, New York State Comptroller Thomas P. DiNapoli announced his plan to divest from nine companies doing business in Iran and Sudan and freeze fund holdings in seven other companies.

DiNapoli explained his decision:

Iran is supporting terrorism. It’s trying to become a nuclear power and its president has made public statements that amount to an incitement to commit genocide by calling for the destruction of Israel. Over the past month, we’ve seen just how brutal this regime can be, even toward its own citizens. The genocide in Sudan challenges us as citizens of the world. We can neither be blind to this callous destruction of human life nor silent in its face. At some point we have to ask, can we afford to risk pension fund investments in nations led by these kinds of regimes?

DiNapoli started a risk mitigation program for companies doing business in Sudan in June 2007 and Iran in November 2007. The decision to freeze or divest came after careful consideration of the companies and their involvement with Sudan and Iran. The action has been applauded by human rights activists.

To view a list of divested or frozen companies, click here.

Go here to read the full press release.

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