City divests $1 million from polluting fossil fuels (Resolution Establishing Investment Instructions)
Santa Monica, CA
How you can benefit
People can experience cancer, asthma and heart attacks from pollution from fossil fuels from power plants and vehicle tailpipes. In 2013, Santa Monica passed a resolution for the only fund they manage that has fossil fuels. While the City portfolio did not have invest in fossil fuels, the Cemetery and Mausoleum fund (trust funds holding fees paid by customers at the time of burial) did.
Why it's a leading policy
Not only did the city pass the resolution, they also divested.
Who can take action
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The City had invested $1 million (10% of the Cemetary fund) in fossil fuels. The city council decided to divest all of it. The Mayor said it was easily accomplished within a year and has not negatively affected their fund.
Gigi Decavalles-Hughes, Director of Finance, Santa Monica, 310-458-8281, email@example.com
July 8, 2015