View letter to Bayer

Comptroller William C. Thompson, Jr., as the custodian and investment advisor to the New York City pension funds, is urging companies with business ties to Sudan to become actively involved in supporting peace efforts.

In letters to 14 companies, Thompson wrote: “Implementation of the Darfur Peace Agreement could be positively affected if the international business community seized this critical opportunity for involvement and impact,” Thompson wrote. “As a fiduciary of the New York City pension funds, which are long-term shareholders of the Company, I firmly believe that effective implementation of such an initiative in Darfur could be beneficial to the long-term business interests of the company and the creation of long-term value for shareholders.”

Thompson sent the letters to Syngenta AG, Sulzer Ltd., and Novartis AG of Switzerland; Petrochina Company, Ltd and China Petroleum & Chemical Corporation of China; Siemens AG, Bayer AG and Schering AG, of Germany; Schneider Electric SA of France; Schlumberger Limited of the U.S.; Royal Dutch Shell PLC of the Netherlands; Intertek Group PLC of the United Kingdom; Telefonaktiebolaget LM Ericsson of Sweden; Finmeccanica SpA of Italy.

The New York City Pension Funds have more than 12.6 million shares worth more than $524.5 million in these companies.

In addition to asking the companies to provide financial and in-kind support for humanitarian efforts, Thompson also called on the companies to attempt to persuade the Sudanese Government to end the violence that has plagued the nation and live up to its commitments to disarm and demobilize the Janjaweed militia.

This letter follows up on a letter Thompson sent to these companies last August, requesting that the companies review their business ties to Sudan, paying particular attention to potential financial and reputational risks.

Besides Thompson, the Pension Funds trustees are:

Fire Department Pension Fund: Mayor Michael Bloomberg; New York City Fire Commissioner Nicholas Scoppetta (Chair); New York City Finance Commissioner Martha E. Stark; Stephen Cassidy, President, James Slevin, Vice President, Robert Straub, Treasurer, and John Kelly, Brooklyn Representative and Chair, Uniformed Firefighters Association of Greater New York; Peter Gorman, President and Captains’ Rep., Nicholas J. Visconti, Chiefs’ Rep., and Stephen J. Carbone, Lieutenants’ Rep., Uniformed Fire Officers Association; and, Joseph Gagliardi, Marine Engineers Association.

Police Pension Fund: Mayor Michael Bloomberg; New York City Finance Commissioner Martha E. Stark; New York City Police Commissioner Raymond Kelly (Chair); Patrick Lynch, Patrolmen’s Benevolent Association; Michael Palladino, Detectives Endowment Association; Edwin Mullins, Sergeants Benevolent Association; Anthony Garvey, Lieutenants Benevolent Association; and, John Driscoll, Captains Endowment Association.

NYCERS: New York City Finance Commissioner Martha E. Stark (Chair); New York City Public Advocate Betsy Gotbaum; Borough Presidents Scott Stringer (Manhattan), Helen Marshall (Queens), Marty Markowitz (Brooklyn), Adolfo Carrion (Bronx), and James Molinaro (Staten Island); Lillian Roberts, Executive Director, District Council 37, AFSCME; Roger Toussaint, President Transport Workers Union Local 100; and, Carroll (Carl) Haynes, President, International Brotherhood of Teamsters, Local 237.

TRS: New York City Finance Commissioner Martha E. Stark (Chair); Deputy Chancellor Kathleen Grimm, New York City Department of Education; and, Sandra March, Melvyn Aaronson and Mona Romain, all of the United Federation of Teachers.

BERS: mayoral appointees Schools Chancellor Joel Klein, Alan Aviles, Philip Berry, David Chang, Tino Hernandez, Augusta Souza Kappner, Richard Menschel and Marita Regan; Borough President appointees Martine G. Guerrier (Brooklyn), Vivian Farmery (Manhattan), Michael Flowers (Queens), and Joan Correale (Staten Island); and employee members Thomas J. Malanga of the International Union of Operating Engineers, Local 891 , and Milagros Rodriguez of District Council 37, Local 372.

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