Lung Health News, Spring / Summer 2000
The American Lung Association of California publicly hailed state Treasurer Phil Angelides' decision to place a permanent moratorium on tobacco investments in the Pooled Money Investment Account and to request similar action by the California State Teachers Retirement System (CalSTRS) and the California Public Employees Retirement System (CalPERS). The association is urging all state-owned retirement funds to divest of any tobacco stock or other investments in tobacco.
The state of California has a vested interest in the health and welfare of its residents, and investing in tobacco is contrary to the state's efforts to protect public health. In a formal statement, the association stated: "Investing in tobacco companies is contrary to the state policy and practice to fight tobacco addiction and reduce the burden of tobacco."
