Schwarzenegger, who like Ahmadinejad went to New York to address the United Nations, told The Times in a written statement that he would sign legislation requiring California’s multibillion-dollar state pension funds to divest from the country.
The move, pushed by a diverse coalition of activists who argue that the federal government has not done enough to keep multinational corporations out of Iran, puts California at the forefront of a national movement.
The bill, AB 221, which the governor plans to sign when he returns to California, passed the Legislature with no opposition and follows the state’s divestment from Sudan last year.
"California has a long history of leadership and doing what’s right with our investment portfolio," the governor said in his statement. "Last year, I was proud to sign legislation to divest from the Sudan to take a powerful stand against genocide. I look forward to signing legislation to divest from Iran to take an equally powerful stand against terrorism."
Schwarzenegger announced his decision as politicians from across the country jockeyed to outdo one another in condemning the Iranian president, who is scheduled to address the United Nations on Tuesday. Ahmadinejad, whom the U.S. government accuses of leading a terrorist regime that arms Iraqi insurgents and is developing nuclear weapons, has called the Holocaust a "myth" and said Israel should be "wiped off the map."