To: Mayor Kasim Reed
Divest Atlanta From Fossil Fuels
Divest City of Atlanta holdings from all fossil fuels within 3 years. Divestment will include, but not be limited to, holdings in oil companies, coal companies and other companies whose business model is at odds with Carbon Stabilization.
Why is this important?
As we respond to Climate Change, some companies will adapt and prosper. Other companies, whose business model is at odds with stabilizing and reducing carbon emissions represent latent weakness in their business model. These businesses will no longer be wise investments, and a fiduciary duty to City investment funds will increasingly require less investment in these companies, rather than more.
Companies heavily invested in fossil fuels will have a structural problem adapting to a Carbon Constrained World. Why? Because they count as part of their company wealth the underground oil, gas and coal deposits which, if released into the atmosphere, will cause greater and greater climate change.
The sooner the City divests from these companies, the better.