Approve investment policy that excludes fossil fuel companies
In Plain English
The city invests public money in stocks, bonds, and other financial products to earn returns on taxpayer funds. This policy would prohibit investing in oil, gas, and coal companies. If approved, the city divests from fossil fuel holdings and avoids future investments in these industries.
Auto-generated summary. Source: official agenda documents.
Votes
Adopt Resolution No. 77-18 with inclusion of divestment from fossil fuels as stated in Resolution No. 38-13
6 to 0
Why This Vote Matters
Richmond's city council unanimously adopted a new investment policy that prohibits the city from investing public funds in oil, gas, and coal companies. The policy requires the city to sell off any current fossil fuel investments and avoid buying shares in these industries going forward. This affects how the city manages taxpayer money to generate returns, essentially steering those investments away from fossil fuel companies. The 6-0 vote (with one member absent) reflects the council's alignment on environmental priorities in managing public funds.
Auto-generated context. Source: official meeting records.
Similar Discussions
5 related items found by meaning
Adopt formal policy governing how the city invests public money
Approve updated city investment policy for managing public funds
Adopt investment policy governing how the city manages its cash reserves
Approve investment policy for managing city funds
Add restrictions to city investment policy to avoid funding violence and war
The Story So Far
Related items from other meetings
Calling for the November 3, 2026, General Municipal Election
Accept the Automated Transit Network Feasibility Study
Task Authorization for Installation of Sodium Hypochlorite Tanks at the Wastewater Treatment Plant.
Policy on Disruption of Telephonic or Internet Service During Public Meetings
Amendments to Position Control List
Civil Rights Act Title VI Implementation Plan for Public Works Federally Funded Projects
Freeway Maintenance Agreement Amendment with California Department of Transportation at the intersection of Central Ave and I-80 (“Caltrans”).
Master Fee Schedule Update
Joint Powers Agreement for Participation in the Contra Costa County Regional Alternative Compliance System
Special Assessments for Unpaid Garbage Collection Service Fees