| Georgia Divestment Legislation Targeting Iran Fails |
| Written by Sara Shokravi | |
| Wednesday, 25 April 2007 | |
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Washington DC - Republican Georgia State Senator Judson Hill’s legislation that would prevent public retirement systems from investing funds in corporations with business dealings with Iran failed to pass the Georgia Legislature last week. The legislation is part of a series of bills that are being promoted coast to coast by DivestTerror.org, a project of the Center for Security Policy (CSP). CSP is a non-partisan, non-profit policy organization located in Washington D.C. The goal is to prevent funding from state retirement systems from going toward foreign companies with active business ties in countries targeted by the organization as ‘terrorist’ nations. It further requires such businesses to divest themselves no later than December 31, 2007. Approximately 400 companies have been targeted by DivestTerror.org as “providing revenues, technology, and moral cover to governments that support terror.” The organization argues that many ‘terrorist-sponsoring states’ are dependent on investment from companies in which Americans own stock. As such, it aims to dissuade those companies from providing support, whether through revenues, equipment, or technology, to these states. DivestTerror.org believes that this will force the targeted countries to end their support for terrorism in the face of an “economic meltdown.” Last month, Maryland’s State Legislature attempted to pass similar legislation following the lead of California, Ohio, and Missouri. In 2006, California and Illinois were successful in passing divestment legislation targeting Sudan. The Center for Security Policy views this campaign as similar to the South African divestment movement of the 1980’s. Other targeted countries in the campaign include Sudan, Syria, and North Korea. To see the language of the Georgia bill, please click here. |
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