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SFERS board reaffirms tobacco, Sudan, firearms, thermal coal and Russia restrictions; all motions pass unanimously
Summary
The SFERS board unanimously adopted staff recommendations across multiple targeted divestment items, reaffirming tobacco restrictions, removing two companies from the Sudan list, updating firearms and thermal‑coal lists, and leaving the Russian restriction framework unchanged.
The San Francisco Employees' Retirement System board voted unanimously to adopt a series of staff recommended changes to its investment restriction lists.
Motion and outcome: Commissioner Bridal moved that the board reaffirm its intent to remain divested from U.S. tobacco companies and adopt the staff’s 2025 list; the motion was seconded and passed unanimously. Staff noted one company no longer met restriction criteria after an acquisition and reiterated the restriction’s long‑term costs were modeled at roughly $150…
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