City Lawmaker Calls for Divestment From Iran
By Staff Reporter of the Sun | May 31, 2007
A leading member of the City Council, Majority Leader Joel Rivera, is calling on the city and state to divest its pension funds from any corporations with ties to Iran's petroleum energy sector.
He plans to introduce a resolution to the council detailing the proposal next month and appeared with Jewish leaders at City Hall yesterday to announce his plan.
A similar proposal is expected to be floated in the Assembly.
The city and state pension funds total $250 billion and close to $101 billion is invested directly or indirectly in Iran, Mr. Rivera said. The investments are a matter of national security because Iran sponsors terrorism, he said.
