25 signatures reached
To: Town Councilors and the Town Manager
Divest Watertown Massachusetts from Fossil Fuels
The Town of Watertown 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 4 years. All retirement funds, pensions, benefit plans, insurance providers, and any other type of town-sponsored employee benefit should be divested from the fossil fuel industry. The Town of Watertown should further resolve to support and encourage the development of alternative energy sources.
Why is this important?
Our children and their children will not be able to reverse global warming unless we stop investing in fossil fuel companies. Those companies—companies which already have more fuel in their reserves than we can safely use—will continue exploring for new oil, coal and gas until we divest from them. Once enough people understand the science and connect the dots with droughts, fires, heat waves, storms, sea level rise, poverty and disease, water shortages, economic instability, war and famine, these companies won't make sense as a financial investment anyway, much less as a moral one. Watertown can and should help lead the way.