A public hearing was held Wednesday by the Committee on Financial Institutions to discuss the future of the state divesting interests from Sudan.
Senate Bill 57 and Asssembly Bill 124, proposed by Wisconsin state Sen. Fred Kessler, D-Milwaukee, and state Rep. Shelia Hardsorf, R-River Falls, would require all state companies to divest its investments in Sudan.
At the hearing, men from Darfur currently living in Wisconsin testified but no vote was taken by the end of the hearing.
According to a statement from the Sudan Divestment Task Force, divesting from these companies would show that Wisconsin does not allow its pension fund to facilitate genocide.
The State of Wisconsin Investment Board holds over $110 million dollars in foreign owned companies with investments in Sudan.
The Sudanese government, who have a history of susceptibility to economic pressure, have already noticed the divestment plan and have spent considerable time trying to attack it, according to SDTF.
This, however, is not the only opposition to the bill.
SWIB has demonstrated strong opposition to the bill. According to SDTF Consultant Scott Warren, ""SWIB claims that the bill would place too stringent requirements on their ability to create profits for the beneficiaries and that could result in losses.""
According to Warren, however, this bill would not negatively impact the Wisconsin economy or its pension fund because all the companies have financially equitable investments.
