Massachusetts Senate adopts amendment to divest from Russia
Amy Sokolow | Boston Herald | March 24, 2022
In a largely symbolic move in a show of support for Ukraine, the state Senate voted to allow the state pension board to divest from Russian holdings.
“The members of the Massachusetts State Senate continue to stand with the people of Ukraine, as they move into a second month of fear, violence and anguish caused by the aggression of Vladimir Putin and Russian forces,” said Senate President Karen Spilka, D-Ashland.
The amendment specifically directs the pension board to divest from companies officially sanctioned by the Biden administration or incorporated in Russia.
The move comes weeks after a bipartisan group of lawmakers signed a letter urging Treasurer Deb Goldberg to divest from Russia, though she responded that that would require an act of the Legislature.
The state’s Pension Reserves Investment Trust has about $140 million invested in Russia, or less than 0.2% of the fund, according to Goldberg.
The supplemental budget also allocates $10 million to resettle international evacuees, including Ukrainians.