"The city’s mayor signed a bill to eliminate the controversial investments by 2025. Boston Mayor Michelle Wu has signed into law an ordinance to divest the city from the fossil fuel, tobacco, and private prison industries by the end of 2025. The ordinance prohibits using public funds to invest in the stocks, securities, or other obligations of any company that derives more than 15% of its revenue from those industries. Under the new law, fossil fuel investments are defined as investments in any company that derives more than 15% of its revenue from the combustion, distribution, extraction, manufacture, or sale of fossil fuels, including coal, oil and gas, or fossil fuel products. It also includes electric distribution companies with corporate affiliates that derive revenue from fossil fuels."
Quote Details
Added by wikiquote-import-bot
Unverified quote
0 likes
Original Language: English
Available Languages (1)
Sources
Boston to Divest From Fossil Fuels, Tobacco, Private Prisons, Chief Investment Officer, Dec 6, 2021
https://en.wikiquote.org/wiki/Divestment
Revision History
No revisions have been submitted for this quote.
Categories
Divestment
14 quotes on TrueQuotesView all quotes by Divestment →
Related Quotes
"[[w: Boycott, Divestment and Sanctions|The BDS [Boycott, Divestment and Sanctions] movement]] was launched in 2005 by…"
"Divestment campaigns urge banks, local councils, churches, pension funds and universities to withdraw investments fro…"
"In recent budget negotiations, Senate Democrats agreed to a boost in military spending that exceeded the cap for fisc…"
"In addition to pressuring our members of Congress to refuse campaign donations from weapons manufacturers and war pro…"
"We will not invest in our annihilation. Now we can avoid it... Our world and everything we care about is threatened e…"
"Ultimately, nuclear weapons will be abolished. They will either be abolished through the means outlined in the “Treat…"
"The Vatican urged Catholics on Thursday to disinvest from the armaments and fossil fuel industries and to closely mon…"
"Over 550 students and alumni are calling on the University to divest from the U.S. prison system and publicly disclos…"
"The College’s endowment will no longer be directly invested in fossil fuels and the Dartmouth Investment Office inten…"
"Together, these bylaws prohibit any future fossil fuel investments from entering the endowment....As the terms of the…"