January 4, 2012
Massachusetts pension board completes Iran divestment
The Massachusetts Pension Reserves Investment Management board announced that it divested all holdings in companies tied to Iran’s energy industry.
The divestment, announced Tuesday in a news release, fulfilled a state law encouraging PRIM to pressure Iran to cease its nuclear weapons program in the Persian Gulf.
“I’m pleased to report that the Iran divestiture was completed on time and in compliance with the law,” said PRIM Executive Director Michael Trotsky.
“Our prompt response to the call to divest sends a clear signal that the actions of Iran will not be tolerated on the international stage or in the boardroom,” said Steven Grossman, Massachusetts state treasurer, and chair of the PRIM board. “Targeted sanctions on Iran offer the best prospect for deterring the Iranian aggression that threatens the security of the United States and its allies, including Israel.”