Mayor Wu Signs Fossil Fuel Divestment Ordinance
December 1, 2021 – Boston’s Mayor Michelle Wu signed an ordinance requiring the City of Boston’s divestment of fossil fuels by 2025.
The ordinance also requires divestment from tobacco and private prison industries, signaling Boston’s commitment to a socially inclusive Green New Deal. According to the City of Boston’s website, “The ordinance prohibits the use of public funds from being invested in the stocks, securities, or other obligations of any company which derives more than 15 percent of its revenue from fossil fuels, tobacco products, or carceral facilities.”
This piece of legislation will help facilitate the transition toward investing in sustainable and healthy jobs for a resilient future.
Earlier this year, in response to advocacy by faculty and students, the BU Trustees voted to divest from fossil fuels.
For more information about the City’s new ordinance, visit the City of Boston’s article: Mayor Wu Signs Ordinance to Divest City Funds from the Fossil Fuel Industry.