Chicago City Council Bans Fossil-Fuel Investments

[livingston]

Chicago City Council Bans Fossil-Fuel Investments​

(Bloomberg) -- The Chicago City Council on Wednesday voted to ban city investments in coal, oil and gas companies in an effort to curb climate change.

The measure that passed was supported by Chicago Mayor Lori Lightfoot and Treasurer Melissa Conyears-Ervin, who manages investments for the city as well as its pension funds and oversees $9 billion in assets. The city plans to create a list of companies that are coal, oil, and gas reserve owners, ranked by potential carbon emissions. The treasurer will not invest any city funds and will divest securities or other obligations of the companies on the list, according to the ordinance.

BNN Bloomberg - Canada Business News, TSX Today, Oil and Energy Prices

Get the latest Canadian business news, including TSX updates, changes to oil and energy prices, and Bank of Canada coverage. Explore stock market investing and get expert financial insights on investment portfolio strategies.

www.bnnbloomberg.ca

 

[livingston]

How about not using any petroleum products .. Step up to the plate Chicago

 

[fresch]

Well she has a big one, don't cha know.

 

[Deplorable Me]

If they're managing a pension fund they have an obligation to the employees and retirees to maximize investment returns.

 

[Steal2B]

If they're managing a pension fund they have an obligation to the employees and retirees to maximize investment returns.

They'll be looking to democrats for a Federal bailout out of our and other taxpayer's pockets to save their pensions.

 

[GOYABEAN]

 

[fresch]

Beatle juice, Beatle juice, Bea

 

[Grimscale]

If they're managing a pension fund they have an obligation to the employees and retirees to maximize investment returns.

And everyone who would be due part of that pension should sue them for mismanagement and deliberate attempts to devalue their pension. Essentially sue them for fraud.

 

[fresch]

Fiduciary

 

[Saltwater60]

Yet politicians don’t cause gas prices to rise. This will not spur less drilling and pumping and lead to shortages of gas and oil. This will cause uncertainty and prices to rise.