Tata Steel

In 2017, CalSTRS designated Tata Steel as “Under Review’ for having a subsidiary that reportedly provides steel to Iran. CalSTRS maintained the “Under Review” designation in 2018. Tata Steel has a subsidiary that reportedly provides steel to Iran. (https://www.calstrs.com/sites/main/files/file-attachments/calstrs_investment_reports_2018.pdf)

"The company was reported as potentially having a subsidiary providing steel to Iran In 2018 CalPERS designated the company as under review. In 2019 CalPERS changed the designation to “being monitored” because CalPERS’ initial screening has not identified the company as having involvement in the regions and/or activities targeted by the Act. CalPERS has maintained the company in “monitor” status for 2020. CalPERS continues to monitor the company for possible changes in status relevant to the Act." (https://www.calpers.ca.gov/docs/forms-publications/iran-sudan-divestment-2020.pdf)

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In 2017 the U.S. state of California listed Tata Steel as a company under review for reportedly having a subsidiary that provides steel to Iran. (https://www.calstrs.com/sites/main/files/file-attachments/calstrs_investment_reports_2017.pdf)