In the wake of the San Bernadino shooting on December 2, the New York Times reported that, on average, one mass shooting occurs every day, that’s four or more people wounded or killed in a single incident. Last month, in my post “Guns and Investors“, I asked the question: “If one of your clients asks whether she is invested in firearms, how are you going to answer her question?” The line of investors seeking to divest from guns is getting longer.
On December 4, two days after the California massacre, New York City Mayor Bill De Blasio called for divestment of firearms manufacturers by the city’s pension funds. He’s certainly not the first to suggest such a step. In June, the California State Teachers Retirement System (CalSTRS) divested from gun manufacturers, and many others have done the same. (more…)