Empowering Local Governments to Pursue Socially Responsible Investing

Whereas many local governments have committed to climate action and socially responsible investing; And whereas a central strategy for climate change mitigation is to reduce emissions into the atmosphere relating to the consumption of fossil fuels, which includes divesting from fossil fuels and reinvesting in renewable sources of energy, employment and revenue; And whereas local governments are empowered in provincial legislation to invest through the Municipal Finance Authority, and the current investment portfolio offered by the Municipal Finance Authority does not include a fossil-fuel free investment option: Therefore be it resolved that UBCM call on the Municipal Finance Authority to create a fossil-fuel-free investment fund to provide local governments with an investment choice that aligns with priorities for climate action and social responsibility.