Governor Polis urges higher education institutions to consider divestment of Russian state assets

DENVER, CO (STL.News) Gov. Jared Polis wrote a letter this week to higher education institutions in Colorado urging them to consider ways to divest Russian state assets.

“I know we share our condemnation of Russia’s actions and will act together to ensure Colorado dollars are not used to support the Russian government. I call on your institution: (1) to completely divest your endowment of all Russian-owned assets; (2) terminate all contracts with the Russian government; and (3) end all grants of which the Russian government or Russian higher education institutions are the primary recipients,” Governor Polis wrote.

“We will stand on the side of freedom and proudly support a democratic and independent Ukraine. War, violence and chaos threaten the very foundations of the global economy and our national security. Colorado will not turn its head. We will take positive steps to support Ukrainians and hold Russia accountable. We hope that these actions will be short-lived and that the great Russian nation will soon become proud and peaceful again, and your actions can accelerate on this day,” Governor Polis continued.

Last week, Governor Polis took steps to direct state agencies to review relevant state contracts to determine if there were any with Russian state enterprises directly or as subcontractors. contractors, and ordered state agencies to work to terminate those contracts if Russian state enterprises are found. be contractors or subcontractors and ensure that future procurement efforts analyze any possible links with Russian state-owned companies.

Following Governor Polis’ actions last week, the University of Colorado is already taking steps to liquidate its investments in Russian companies, according to reports. Additionally, Colorado PERA quickly divested $7.2 million from a Russian bank and the governor requested the complete divestiture of the PERA trust fund from all Russian public institutions.

Colorado also severed diplomatic relations with Russia and no longer recognized the consular mission and was prepared to accept Ukrainian refugees.