Florida’s public retirement fund will get rid of nearly $1.3 billion in investments with companies doing business in Iran and Sudan, a move state officials hope will prompt similar actions throughout the country.
State Sen. Ted Deutch, who sponsored the law, said the state is “telling every one of these companies that from this day forward we won’t invest another dollar, Florida’s public dollars,” in them.
At least six states have enacted similar bans on companies doing business in Sudan, where famine and genocide have drawn worldwide condemnation. Florida is the first state to divest from Iran. The ban protests alleged terrorist ties in both nations, as well as Iran’s potential development of nuclear weapons.