Published: 06-22-07
AUSTIN – Gov. Rick Perry today signed Senate Bill 247 which directs the state Employees Retirement System (ERS) and Teachers Retirement System (TRS) to divest financial holdings in companies doing business in Sudan. “As one of the richest nations in the world our country holds both tremendous power and great influence” said Perry. “The brutal attacks on the people of Darfur are sickening. And what is worse they are coming from the very body that should be protecting them: the Sudanese government.
The Sudanese government is responsible for mass genocide and other inhumane attacks on their people. Today 17 states including Texas have adopted divestment policies. SB 247 specifically directs divestment of funds that have a direct relation to the atrocities taking place in Sudan. The Comptroller’s Office will compile and publish a list of prohibited companies and update on a quarterly basis. ERS and TRS will give written notice to companies recognized as actively participating or linked to genocide and provide a timeline for companies to discontinue business with Sudan.
SB 247 takes effect January 1 2008.
For more information regarding legislative action taken by Gov. Perry please visit www.governor.state.tx.us.
