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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.
A resolution declaring the intent of a city that does not invest in stock to refrain from investing in fossil fuel companies in the future.
A resolution urging divestment, if the City does not control the Pension Board and does not otherwise invest in fossil fuel stocks.
A resolution to divest a city holding fossil fuel stocks from publicly-traded fossil fuel companies.
A resolution declaring the intent of a city without fossil fuel investments to refrain from investing in fossil fuel companies in the future.
Policy establishing sustainable procurement guidance for city purchases requiring full life cycle evaluation of materials and their economic and environmental impacts.
Companies, governments, and institutions of all kinds purchase goods and services for their own use. But what they buy - and how they buy it - has a significant impact on local communities, the environment, and the economy - and in some unexpected ways, on the success of the business itself. When organizations choose to purchase goods and services that are sustainable, in a way that is transparent, they lower their risks, boost their public relations, and become more cost-effective. What's more, they help build a broadly sustainable economy - especially when they also require sustainability from their supply chains. By choosing sustainable procurement options, buyers enhance local economic growth, harness the potential of underutilized communities, reduce income inequality, and mitigate the damage of climate change - all while making purchases their operations need. Adding sustainability and transparency to purchasing specifications improves everyday operations and, at the same time, fosters a more sustainable economy for everyone.
In accordance with 2007 City Council Resolution # 20519, the City of Phoenix will purchase products and services that have a reduced effect on human health and the environment when compared to competing products or services that serve the same purpose, while remaining fiscally responsible. Being fiscally responsible requires the City to consider full life cycle analysis cost of materials.
The world provides a rich opportunity set that is both broad and deep. Removing even a sizable percentage of the investable set has relatively little impact on carefully selected actively managed portfolios. Reducing the quantity of companies in the portfolio, using a U.S. domestic investable universe, assuming a lower long-run expected return to the market (of say, 6 or 7%), or using a less egregious portfolio construction process all have the potential effect of reducing the expected cost of fossil fuel divestment.
A growing number of individuals and institutions have recognized the limits of shareholder advocacy to secure the policy changes needed and have divested from fossil fuel companies. Green Century believes that divesting from fossil fuel companies is the most effective way for investors to pressure those companies on climate change, and to clear the path for policy and regulatory changes needed to curb carbon emissions.