Boston Divests from Fossil Fuels

What’s happening? Boston’s new mayor, Mayor Michelle Wu, signed an ordinance that prohibits the use of city funds in investments in the fossil fuel industry.

Why is this important? Unlike blanket divestments, it applies to any company that derives more than 15% of its revenue from coal, oil, natural gas, and fossil fuel products. 

How will this be important? It is estimated the ordinance will pull $65 M of Boston’s funds from fossil fuel invested companies. In June Maine divested from fossil fuels statewide. In January NYCs 2 main pension funds divested from fossil fuels.

@howthisher