US - The board at the US$210bn California Public Employees' Retirement System (CalPERS) has banned investments in nine companies that do business in Sudan and called on other companies to severe ties with the genocide-linked country.
Board president Rob Feckner said the fund would also continue “constructive engagement” to ensure not other companies it invested in were linked to genocide in the troubled country, and urged the federal government to publish a definitive list of companies with Sudan ties.
CalPERS’ action to prohibit investment in the nine companies was subject to legislation that would require the State to indemnify the fund from any financial losses incurred as a result of state mandated divestment.
CalPERS said it had also joined the Connecticut State Treasurer's Office and the New York State Comptroller's Office to ask other companies - including mobile phone giants Ericsson and Vodafone - to disclose direct or indirect business activities in Sudan.
The nine companies identified by CalPERS were Bharat Heavy Electrical, China Petroleum and Chemical Corp, Nam Fatt, Oil & Natural Gas, PECD Bhd, PetroChina, Sudan Telecom, Tatneft OAO and Videocon Industries.
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