CEA Backs Treasurer’s New Policy to Divest Pension Funds from Irresponsible Gun Manufacturers
CEA President Jeff Leake joined State Treasurer Shawn Wooden, AFT-Connecticut, and gun violence prevention advocates for a press conference announcing the treasurer’s new Responsible Gun Policy—a plan that includes divesting state pension funds from irresponsible gun manufacturers. Annually in Connecticut, the cost of gun violence averages $1.2 billion and claims 180 lives.
The new policy aims to divest Connecticut’s pension funds for teachers and state employees from civilian firearms manufacturing companies and prohibits future investments, with flexibility to invest in gun safe technologies. It also encourages companies to adopt safe gun policies, requests financial institutions that wish to work with the Office of the Treasurer to disclose their policies on guns, and seeks to partner with and promote good corporate behavior on safe gun policies.
“Teachers applaud the treasurer for taking these steps to reduce gun violence in our communities,” said CEA President Jeff Leake. “Treasurer Wooden’s decisions involve billions in investments, and we are pleased he is choosing to use the power of those decisions to promote responsible gun policies.”
“If money talks, then we want our policy to speak loud and clear—the status quo must change to produce better returns and safer communities,” said Wooden. “Through divestment, disclosure, and decision-making at the Connecticut Treasury we will change the way we do business and work to be part of the solutions in reducing gun violence.”
The new policy must be formally approved by the Investment Advisory Council, which will take up the changes in February.