The press release says the State ERS on January 23, 1990 announced a plan to divest $1.06 billion in pension fund monies from companies doing business with South Africa. The press release says this action occurred after years of lobbying coordinated by the Hawaii Committee for Africa, which included pressure by all the public unions, most religious and other responsible community groups, and the efforts of individual state legislators. The policy was passed 21 months after the state legislature adopted a resolution calling on all state agencies to divest. The policy falls somewhat short in not specifying a time period (the legislature requested complete divestment by July, 1993) and in some...
The press release says the State ERS on January 23, 1990 announced a plan to divest $1.06 billion in pension fund monies from companies doing business with South Africa. The press release says this action occurred after years of lobbying coordinated by the Hawaii Committee for Africa, which included pressure by all the public unions, most religious and other responsible community groups, and the efforts of individual state legislators. The policy was passed 21 months after the state legislature adopted a resolution calling on all state agencies to divest. The policy falls somewhat short in not specifying a time period (the legislature requested complete divestment by July, 1993) and in some lack of clarity about the process by which funds will be divested. However, it takes a positive step by signaling to South Africa that the State of Hawaii will not tolerate use of its funds to support the South African government's policies of racial oppression. Hawaii now joins some 25 other states, 19 counties, 82 cities, and the federal government in taking economic action against apartheid.
