News from Seattle: City To Divest From Fossil Fuels

The Mayor of Seattle, WA–Mike McGinn–has officially ordered the city to divest its pension from fossil fuels. He also called for no new investments in fossil fuels. The city’s fund is $1.9 billion, the largest amount so far. This is huge for a few reasons:

1) Seattle is the first city to join the divestment movement, showing that this is an issue that any individual can take a stand on–not just students.

2) Since this is the largest fund to be divested, a precedent has been set. This is the first portfolio valued at over $1 billion to consider divestment, and this will show that it is also feasible for large university endowments to divest.

3) A politician is taking a stand on climate change and drawing the line. Mayor McGinn is a leader, and I hope that he inspires many others to follow.

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