Iran. Review: Sudan/Iran Divestiture. Sudan. June, 2007. gregory.w.group. Brief History of Divestitures. March 1, 1928 – Pioneer Fund launched; excludes tobacco and alcohol companies, “sin stocks”
2Social Investment Organization
Data on the extent of Iran-linked investments is difficult to obtain. The issue develops daily. We found the following published estimates of exposures for several large State Pension Systems.
Ohio: $4 billion
CalPERS + CalSTRS: $2 billion to $24 billion
Florida: $1 billion
New York: $1 billion
CalPERS officials estimate a ban on Iranian investments could cost the fund $20 million in fees and commissions and $66 million in associated transactions costs. Exposure to companies that could be affected by the bill generated $725 million in returns over the past five years.
Source: Sudan Divestment Task Force
As of June 1, 2007
LIST OF PERSONS INVESTING IN IRAN ENERGY SECTOR.—
(1) PUBLICATION OF LIST.—Not later than 6 months after the date of the enactment of this Act and every 6 months thereafter, the Secretary of the Treasury, in consultation with the Secretary of Energy, the Secretary of State, the Securities and Exchange Commission, and the heads of other appropriate Federal departments and agencies, shall publish in the Federal Register a list of each person, whether within or outside of the United States, that, as of the date of the publication, has an investment of more than $20,000,000 in the energy sector in Iran. The list shall include a description of the investment made by each such person, including the dollar value, intended purpose, and status of the investment, as of the date of the publication.
"We are gravely concerned about terrorist activities throughout the world. But we hold pension dollars in trust, andit is our obligation to invest those dollars for the exclusive purpose of paying benefits for our members.
Once we divest from a company, we lose the opportunity to constructively engage that company to bring about positive change.”
President of the Board of Administration
Sudan Divestment Task Force: www.sudandivestment.org
Institutional Investment News: www.plansponsor.com
Third Party Screening Tools: www.kld.com
Our Weblog: http://targetdivestiture.blogspot.com
Douglas J. Anderson
Senior Vice President
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