US - The state of Indiana has passed a Bill requiring public pension schemes to divest from companies investing in state sponsors of terrorism.
They will also be barred from investing in certain industries - most notably, military equipment and arms, oil and mining, and power generation - in these countries.
State representative David L. Niezgodski (D-South Bend), the Bill's sponsor, said: "This bill takes [divestment] one step further to include all states that sponsor terrorist activities. There is a need to send a distinct message and to have our words backed by actions. It is important that America exist upon the assumption of peace and good will.
"This bill provides one more step in that direction."
The pension funds will be able to engage with companies which contravene the terms of the Bill, in order to negotiate a withdrawal from those markets or convert the activities into "inactive operations".
Should these criteria not be met, the Bill requires the funds to fully divest their investments within five years, although the Bill added enforced divestment was a "measure that should be employed only under extraordinary circumstances".
The funds are required to have compiled a list of all investments in contravention of the law by 30 March, 2010.
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