UPDATE: Great news! Our Divest PERS From War campaign, launched by Stacy Bannerman in August, 2018, has been so successful - including positive talks with Governor Kate Brown and OR State Treasurer Read - that Jodie Evans/CODE PINK and World Beyond War are investing to #Divest! They are teaming up and putting much-needed resources, including paid personnel and money for billboards, etc., into the campaign!
Women's EcoPeace is delighted to pass the baton to these wonderful organizations with the resources to continue to build our Oregon Divest From War Coalition, and take the OR Divest PERS From War Campaign across the finish line. We truly believe Oregon will be the frontrunner, which is why we created the first statewide campaign to Divest from War. FFI or to join the OR Divest From War Coalition, contact Maya · email@example.com
The Oregon Divest from War Coalition is calling on Governor Kate Brown, Treasurer Tobias Read, the Oregon Investment Council, and the Public Employees Retirement System (PERS) Board to immediately create an investment policy that values life, local communities, a green Oregon, and sustainable jobs at home.
The nearly $78 billion PERS fund, the 14th largest public pension fund in the U.S., is draining money from struggling communities in rural Oregon to finance record profits for out-of-state companies like Lockheed Martin, Raytheon, Northrop Grumman, BlackRock and others that are making a killing on killing. The state’s public pension fund struggles to meet its obligations, while examples of socially responsible investing, including excluding weapons manufacturers, show better returns.
The Oregon Divest from War Coalition urges all state investment managers to proactively engage in creating investment portfolios that prioritize Environmental, Social, and Governance risks that will have a better return on investment. In light of the escalating costs of war to people, the planet, and taxpayers’ pocketbooks, the current state investment portfolio is fundamentally unsustainable by every measure.
“It’s morally and environmentally indefensible for a public fund like PERS to invest in endless, pointless wars, given the human and climate costs of combat.” said Coalition Director Stacy Bannerman, wife of a two-time Iraq War combat veteran and author of Homefront 911 (2015). “I cried when I saw that PERS made a profit from my loss and that of so many others.”
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