Add restrictions to city investment policy to avoid funding violence and war

Police & Community SafetyGovernance

In Plain English

The city currently reviews its investment policy annually as part of budget planning. Three council members want to prevent city funds from being invested in companies that support violence, war, or apartheid. If approved, staff will research and modify the policy to exclude these investments.

Auto-generated summary. Source: official agenda documents.

Votes

Direct staff to review and modify the city's Investment Policy and come up with options and recommendations for the four (4) restrictions as presented in the agenda report and the presentation, and for potentially coming up with new socially responsible investments. These options and recommendations can be through coming up with new investment groups. They should be presented to the City Council by July 2nd (or at least an update as to where we're at) and subsequently to the HRHRC (Human Rights Human Relations Commission) to come up with a framework to annually review these companies and banks we are restricting and making sure from year to year those restrictions are being implemented and followed

Moved by: Gayle McLaughlinSeconded by: Melvin Willis

Passed

6 to 0

Soheila BanaAye

Gayle McLaughlinAye

Doria RobinsonAye

Melvin WillisAye

Claudia JimenezAye

Eduardo MartinezAye

Cesar ZepedaAbstain