DIVEST STATE’S PENSION FUND FROM RUSSIAN INVESTMENTS

By Bob Katzen

The Senate 39-0, approved an amendment that would require the state’s pension funds to terminate investments with any company that has been sanctioned by the United States as a result of Russia’s invasion of Ukraine or is incorporated in Russia.

The list would be researched and prepared by an independent, third-party research firm and would be updated by the firm four times per year. The pension fund would be required to divest itself of 50 percent of the companies within six months and 100 percent within a year.

“We have the moral obligation here in the commonwealth of Massachusetts to take a stand and embrace any and all levers of opportunity to apply maximum pressure to a war criminal’s murderous regime, that is Vladimir Putin’s Russian Federation,” said sponsor Sen. Walter Timilty (D-Milton). “It is crucial that we send a message, as one commonwealth, that we are acting against an evil regime, standing united with the courageous people of Ukraine,” Timilty concluded.

“The members of the Massachusetts State Senate continue to stand with the people of Ukraine, as they move into a second month of fear, violence and anguish caused by the aggression of Vladimir Putin and Russian forces,” said Senate President Karen Spilka (D-Ashland). “There is nothing that we can do to fully erase the pain and suffering caused by this immoral and unnecessary military action, but we can insist that Massachusetts take action to divest from Russian interests and support the Ukrainian people.”

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