In December, Seattle’s Mayor Mike McGinn sent a letter to the city’s two chief pension funds on friday, formally requesting that they “refrain from future investments in fossil fuel companies and begin the process of divesting our pension portfolio from those companies.”
McGinn’s letter includes a compelling argument:
There is a clear economic argument for divestment. While fossil fuel companies do generate a return on our investment, Seattle will suffer greater economic and financial losses from the impact of unchecked climate change. Our infrastructure, our businesses, and our communities would face greater risk of damages and losses due to turbulent weather that climate change causes. As a waterfront city, several of our neighborhoods and industrial districts are at risk if climate change causes a significant rise in sea level.
Think Ann Arbor should divest too? Sign this petition to Ann Arbor’s City Council to show your support!