US Montgomery OKs policy barring some Sudan investment
April 01, 2008 (ROCKVILLE, Md.) — The Montgomery County Council has adopted a policy barring the county’s employee retirement system from making some investments in companies operating in Sudan.
The measure proposed by Councilmember Marc Elrich was inspired by students at Blair and Magruder high schools who are asking local governments to stop investing in companies that support the Sudanese government.
It requires the County Board of Investment Trustees to direct investment managers of its actively managed separate accounts to divest of certain companies doing business in Sudan in hopes of influencing the government of Sudan to end atrocities in Darfur.
The bill passed Tuesday will automatically sunset if the recently enacted federal law authorizing state and local governments to divest of certain companies conducting business in Sudan sunsets.
(AP)