06 Feb '13, 1am

Seattle and San Francisco consider divesting from fossil fuels

Seattle and San Francisco consider divesting from fossil fuels

The divestment campaign that 350.org began in late 2012 has grown up so quickly! It seemed like just yesterday that Bill McKibben et al were convincing colleges to pull their money out of the fossil fuel industry and in turn feel much better about their moral selves. Now the movement’s graduated and moved on to lobbying municipal governments to do the same. So far Seattle and San Francisco’s city employee pension funds are both looking at divesting from fossil fuel companies. From the Financial Times : If the Seattle retirement scheme were to divest from such companies completely, it would be the first to take such a step, said Stephanie Pfeifer of the Institutional Investors Group on Climate Change, which represents some of Europe’s largest pension funds and asset managers. Mindy Lubber, president of the US-based Ceres investor advocacy group, agreed, saying the move unde...

Full article: http://grist.org/news/seattle-and-san-francisco-consider-...

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