Model Ordinance: Divestment from Fossil Fuel Companies

This act requires that a municipal public fund create a list of fossil fuel companies that match specific criteria, divest all holdings from the companies on this list over a 3-year period, and reinvest funds in socially responsible investments that satisfy prudent person standards. This act also requires investment offerings for participant-directed retirement funds that are devoid of holdings in fossil fuel companies. This act also urges divestment action from fiduciaries of local government investment pools and that credit agencies factor climate risks into their ratings of publicly held companies.