The Texas Senate unanimously passed legislation Tuesday that requires state pension funds to divest funding from companies that do business in Sudan.
Senate Bill 247, sponsored by Senators Rodney Ellis, D-Houston, and Florence Shapiro, R-Plano, specifically focuses on companies that do business with the Sudanese government, and is a response to the genocide affecting the Darfur region of the country.
"Today the Texas Senate took a strong and historic stand against genocide," Ellis said in a written statement about the legislation. "We have sent a message to the world that we will not tolerate turning a profit of genocide."
The bill must now gain House approval and be signed by the governor before becoming law.
Members of the White Rose Society, a UT student organization that protests the genocide, have lobbied for the legislation's passage since the fall term.
"We've been writing letters to actively encourage representatives to pass the bill. We also did a lobby day where we passed white roses and literature to every legislative office," said government junior Leran Minc, an executive member of the society.
Under the law, the Teacher Retirement System of Texas and Employee Retirement Services of Texas will divest from international companies listed as doing business with the Sudanese government, such as providing oil-related activities in the country or supplying weapons.
The law requires divestments from companies after 15 months if they do not change their operations. Among the listed companies potentially affected by the divestiture are Schlumberger Ltd. of France, Rolls-Royce Group of England and Qatar Petroleum, according to a press release from Ellis' office.
"This is one of the best pieces of legislation. [It] has protections to make sure there are no negative effects and sends a strong message to the Sudanese government," Minc said. "It's a great statement for Texas to make."
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