The City of Hobart should immediately freeze any new investments in fossil fuels, and divest from direct ownership and any commingled funds that include fossil fuel public equities and corporate bonds within 5 years.
Why is this important?
Our local government has a responsibility to divest from an industry that’s destroying our future, and reinvest in solutions to climate change.
We can not count on the federal government, even as extreme weather events like the record rain fall in the Duluth area last Spring overwhelm local budgets. We have the solutions, but we won’t see any political progress on the issue until we can weaken the power of the fossil fuel industry.
The bottom line is this: divestment is the only moral choice for governments that care about their citizens. Solving the climate crisis is the only practical choice for governments that care about their solvency. It's time to divest from fossil fuels now!
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