Feb. 28: City Council to Look at Boston’s Pension Investments

Date of Council hearing: Thursday, Feb. 28
Time: 2 pm
Location: Iannella Chamber (5th floor), Boston City Hall
Link to hearing order

Facebook event page: https://www.facebook.com/events/243642093229007/

In an effort to bring transparency and social responsibility to the use of the City’s pension fund investments, three city councilors will hold a hearing on this issue. Learning how the fund is currently used and invested via this hearing is the first step in the process toward Boston’s divestment from socially irresponsible companies. Please attend if you can and also let your members/friends know about the hearing. And please consider making either public or written testimony on Feb. 28.

Here is what Councilor Wu wrote in her summary of the January 9 City Council meeting on this investigation:
Pension Fund Investment: Councilors Edwards, O’Malley and I filed a hearing order to discuss disclosure and divestment of City pension funds to ensure socially responsible investment. The City has the leverage and power to be morally responsible in terms of our pension fund investments, divesting away from fossil fuels and supporting industries that are aligned with the City’s policy goals. Other cities have divested their pension funds from the fossil fuel sector and/or unethical industries, including New York City and Somerville. While the City of Boston established an interim cash investment policy outlining protocols for non-pension fund investments, it does not currently exercise socially responsible investment screens. The matter was assigned to the Ways and Means Committee for a hearing.