WASHINGTON, September 11 (RIA Novosti) – California lawmakers have overwhelmingly approved a resolution urging the two largest US public retirement plans to halt investment in Russia to protest the country’s new law on homosexuality, a state senator said.
Senate Resolution 18, which calls on the California Public Employee Retirement System (CalPERS) and the California State Teachers Retirement System (CalSTRS) to cease investing in Russia, was approved Tuesday with a 29-1 vote, making it the state senate’s official position, according to Senator Mark Leno who introduced the bill.
Precise details of the funds’ Russian investments were not available, but CalPERS recently acquired joint ownership of a prestigious commercial property in Moscow while CalSTRS reported double digit profits over the past year due in part to investments in global equity markets.
The resolution also urges the International Olympic Committee to do more to protect gay rights in Russia during next year’s Sochi Winter Olympics, and calls on other organizations holding high profile events in Russia, such as the Miss Universe Organization, to move their events to other locales “without such virulently anti-gay laws.”
