Divest Lowell From Fossil Fuels

Climate change poses a grave threat to the City of Lowell, its residents, and the whole planet; and

Some of the consequences of climate change include extreme weather and storms, sea level rise, melting of artic and glacial ice, the acidification of our oceans, community displacement, rising food and water shortages, corresponding property damage, and increased public health risks. Rising temperatures increase the moisture-holding potential of the atmosphere, leading to more volatile weather. Climate change has been linked to severe weather and storm events, such as Superstorm Sandy; and

Climate change affects the stability of Lowell’s future and its young people who will be the generation that will inherit the most devastating impacts of climate change in this century; and

The City of Lowell has already made a conscientious effort to implement green initiatives and support environmentally friendly lifestyles amongst its residents by establishing a Green Building Commission, including sustainability in its’ Master Plan, becoming a Massachusetts Green Community, by installing bike lanes, solar powered trash cans, electric vehicle charging stations, moving some of its vehicle fleet to more energy efficient modes, replacing its streetlights with LED bulbs, installing solar energy collectors on schools and other municipal buildings, instituting an energy aggregation plan and having weekly farmers markets; and

Lowell has an opportunity to be at the forefront of sustainable actions in the Merrimack Valley and beyond. Around the country and around the world, cities, communities of faith and institutions of higher learning are committing to divestment from fossil fuel companies.

Twelve Massachusetts cities and towns, Cambridge, Somerville, Framingham, Truro, Provincetown, Northampton, Amherst, Concord, Sudbury, Brookline, Springfield and (now) Boston; more than in any other state in the nation, have already passed resolutions encouraging and supporting state divestment of fossil fuels from retirement funds; and

Divestment has proven to be an effective strategy for stigmatizing unethical industries and institutions throughout our state’s history. Massachusetts was the first state to divest from South Africa in 1982, the first state in the nation to divest all state pension funds from tobacco companies in 1997. Massachusetts should continue this legacy of socially conscious investing; and

The continuous scientific and engineering advancements made in renewable energy, strain on natural resources, and demand for alternatives to fossil fuel could prove to be factors that will make investment in fossil fuels undesirable; and

The City of Lowell and Massachusetts should explore and grow strategies to invest its employees’ money in responsible industries and stocks that benefit, rather than harm its communities and future stability while still maximizing a return for retirees and pensioners; and

The City of Lowell and Massachusetts should look to investing in and expanding funding on programs and projects that benefit its environment, economy, and communities, which should include renewable energy, green jobs, and affordable housing and transportation, rather than remaining invested in fossil fuels;