[A-List] No. 3 U.S. Pension Fund Reviews Iran Investments

["Yoshie Furuhashi" <critical.montages@xxxxxxxxx>]

The politics of divestment, favored by many on the Left who hold up
the anti-Apartheid campaign for South Africa, seems to mainly benefit
the Right.  After all, only states and capitalists make investment
decisions in the capitalist world, and the causes that move them most
easily are the causes that may empower them in the long term. --
Yoshie

<http://investing.reuters.co.uk/news/articleinvesting.aspx?type=breakingFundsNews&storyID=2007-06-09T002431Z_01_N08194633_RTRIDST_0_FINANCIAL-CALSTRS-IRAN.XML>
No. 3 U.S. pension fund reviews Iran investments
Sat Jun 9, 2007 1:24 AM BST160

SAN FRANCISCO, June 8 (Reuters) - Calstrs, the third-largest U.S.
pension fund, said on Friday it is calling on 13 energy companies in
its $171 billion investment portfolio to reconsider their investments
in Iran.

The California State Teachers' Retirement System, best known as
Calstrs, said in a statement its board has told staff to press the
companies identified by the American Israel Public Affairs Committee
over their business with Iran.

The pension fund said it estimates it has $1.4 billion invested in the
companies.

"Calstrs has never and will never tolerate support of terrorism," said
Dana Dillon, chair of the fund's board. "In the strongest words
possible, we urge these businesses to consider the growing risk to
their investment value by continuing their current activities."

Among the companies are Eni (ENI.MI: Quote, Profile , Research),
Gazprom (GAZP.MM: Quote, Profile , Research), Indian Oil Corp.
(IOC.BO: Quote, Profile , Research), INPEX Holdings Inc. (1605.T:
Quote, NEWS , Research), Petrobras (PETR4.SA: Quote, Profile ,
Research), Repsol (REP.MC: Quote, Profile , Research), Royal Dutch
Shell Plc (RDSa.L: Quote, Profile , Research) and Statoil (STL.OL:
Quote, Profile , Research).

Calpers, the California Public Employees' Retirement System, has
rejected calls to divest its holdings in foreign companies doing
business in Iran. The sister fund to Calstrs and largest U.S. pension
fund has historically resisted such calls.

California lawmakers are considering legislation urging the two
pension funds to divest their holdings in companies with business in
Iran.

--
Yoshie