LEESBURG VA RESOLUTION REQUESTING DIVESTMENT OF THE VIRGINIA RETIREMENT SYSTEM FROM FOSSIL FUELS

The Virginia Retirement System (VRS) has the fiduciary responsibility to invest public employee retirement savings in enterprises that do not undermine the future health and safety of those same employees. The fossil fuel industry's business objectives are to extract all known fossil fuel reserves and continue to explore for new reserves. We know that if more than 20% of the known reserves are extracted and burned, the climate impacts will adversely affect all aspects of society. Because it is unconscionable for the VRS to invest in corporations that threaten VA’s public employees and all VA residents, we request the Town of Leesburg, VA, adopt a resolution requesting the Virginia General Assembly to direct the VRS to divest from fossil fuel public equities and corporate bonds.