100 signatures reached
To: Ann Arbor City Council
Divest Ann Arbor from Fossil Fuels
Develop a plan to divest Ann Arbor's holdings from fossil fuels within 5 years, including direct ownership, mutual funds and other retirement accounts that include fossil fuel public equities and corporate bonds.
Why is this important?
Divestment from fossil fuel companies is a signal that the people of Ann Arbor are ready to take a stand for the good of the planet. More than 15 other cities have divested, including Madison, WI; Berkeley, CA; and State College, PA. A list of commitments from colleges/universities, cities, counties and other institutions is available here: http://gofossilfree.org/commitments/
Having passed a relatively robust Climate Action Plan in December 2012, Ann Arbor is preparing to take serious steps to attack climate -- that's why we should make sure we're not also profiting from climate pollution in unintended ways.
This is particularly true for cities and states, who shouldn’t be investing their pension funds in companies that are wrecking the planet which employees are going to retire on.
Specifically, we’re asking for divestment from the 200 companies that hold the vast majority of the world’s coal, oil, and gas reserves. Scientists tell us that 80% of those reserves need to stay in the ground, but these companies continue to recklessly burn through them with no plan to stop.
Divesting from fossil fuels also presents cities, states, and pension funds with an opportunity to reinvest the money in a way that not only creates a profit, but also benefits our communities and the climate. A city could reinvest the money in energy retrofits, solar companies, green jobs programs, and more.
We need to declare our freedom from fossil fuels. Divestment is the first step.
How it will be delivered
At a City Council meeting on September 3rd