seattle mayor orders city to divest from fossil fuels

[xchrom]

http://www.nationofchange.org/seattle-mayor-orders-city-divest-fossil-fuels-1356540202



Seattle Mayor Mike McGinn sent a letter to the city’s two chief pension funds last week, formally requesting that they “refrain from future investments in fossil fuel companies and begin the process of divesting our pension portfolio from those companies.”

“Climate change is one of the most important challenges we currently face as a city and as a society,” wrote Mayor McGinn in a letter to the Seattle City Employees’ Retirement System (SCERS) Board and the City of Seattle Voluntary Deferred Compensation Plan Committee. “I believe that Seattle ought to discourage these companies from extracting that fossil fuel, and divesting the pension fund from these companies is one way we can do that.”

Along with encouraging the pension funds to divest, Mayor McGinn also committed to making sure that city funds stay out of the fossil fuel industry, writing, “The City’s cash pool is not currently invested in fossil fuel companies, and I already directed that we refrain from doing so in the future.”

[oldhippie]

1. "orders" and "request" are two different things .....

Jebus, what has become of journalistic and linguistic standards in this country? How did that headline get by any editor?

"Seattle mayor orders city to divest from fossil fuels"


"Seattle Mayor Mike McGinn sent a letter to the city’s two chief pension funds last week, formally requesting that they ..."

[AtheistCrusader]

2. We get 72% of our power from Hydro.

I wonder if the pension had any fossil fuel holdings at all?