The City of Hamilton 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?
The City of Hamilton took leadership on climate change and signed the first community Climate Change Charter in Ontario. The City of Hamilton has a responsibility to protect the lives and livelihoods of its inhabitants from the threat of climate change. To do this they must divest from an industry that’s destroying our future, and reinvest in solutions to climate change.
We can not count on the federal government. 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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