Major global brands, including McDonald’s company (MCD.N)PepsiCo (PEP.O) and on Estee Lauder Cos Inc. Thinking about temporarily halting their operations in Russia, the head of the New York State Pension Fund wrote in letters to several companies on Friday.
else comp The recipients of the letter are Mondelez International Inc, Fortinet Inc, Kimberly-Clark Corp, Bunge Ltd, Coty Inc, and Alnylam Pharmaceuticals Inc. and Trimble Inc.
None of the companies immediately responded to a request for comment.
Politician Pressure is mounting on companies to shut down Russia Because of its invasion of Ukraine, the sanctions make some operations difficult. Some major companies have already said they will stop, including athletic shoe maker Nike and home furnishings company IKEA. Read more
Letters from New York State Comptroller Thomas Dinpoli urged companies to review their business in Russia because they face “significant and growing legal, compliance, operational, human rights, employee, and reputational risks,” wrote Dinapoli, who oversees nearly $280 billion for the state. A retirement fund that owns shares of companies.
The letter stated that stopping or ending operations in Russia “would address the various investment risks associated with the Russian market and play an important role in condemning Russia’s role in fundamentally undermining the international order which is vital to a strong and healthy global economy.”
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