The City of Portland should immediately freeze any new investments in fossil fuels, and divest from direct ownership and any mutual funds that include fossil fuel public equities and corporate bonds within 5 years.
Why is this important?
Divestment from fossil fuel companies is a signal that the people of Portland are ready to take a stand for the good of the planet.
If it is wrong to wreck the climate, then it is wrong to profit from that wreckage. Portland should be a shining light in the fight to combat climate change -- to do that, the city must freeze and divest from fossil fuels.
One city divesting from these stocks and funds can help build the momentum as other local governments, colleges, universities and institutions shift away from fossil fuels. Together, we can send a signal that the fossil fuel companies' future value is in doubt, that the world is ready to shift to an economy powered by renewable energy. As a proudly progressive city, Portland should be leading this charge.
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