Yesterday both Mayor Durkan and City Councilmember Mosqueda sent letters to the Seattle City Employees Retirement System (aka SCERS) urging it to divest the pension fund from fossil-fuel investments. Three years ago when then-Councilmember Mike O’Brien, Councilmember Lisa Herbold, and former Mayor Mike McGinn tried the same thing, the request was met with sympathy but was still refused. This time it’s likely to get the same reply — but that doesn’t means that SCERS is ignoring climate change.
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Here’s why the city pension fund won’t divest from fossil fuels
This morning, the usually sleepy Seattle City Employees Retirement System (SCERS) board meeting had its moment in the spotlight, as a large number of activists and a handful of local politicians showed up to urge the board to divest the city’s pension fund from fossil fuel companies. It was a thoughtful, respectful, and long conversation. A lot of listening happened, and much appreciation was extended in both directions for the depth of thought and energy that went into analysis and remarks. It was exactly the kind of conversation you wish every activists-meet-government conversation could be. But at the end of …
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