Green clause for City in­vest­ments

Ellenbrook Advocate - - OPINION -

THE City of Swan has com­mit­ted to mak­ing more eth­i­cal fi­nan­cial in­vest­ments where pos­si­ble, with the in­tro­duc­tion of a non-fos­sil fuel in­vest­ment clause.

A week af­ter the Town of Vin­cent voted to shift its in­vest­ments away from coal, oil and gas last week, City of Swan coun­cil­lors have voted unan­i­mously to fol­low suit.

Swan Mayor Mick Wain­wright said the clause was added to the City’s In­vest­ment of Sur­plus Funds pol­icy. “The clause states that the City will en­sure its fi­nan­cial in­vest­ments con­sider in­vest­ing with non-fos­sil fuel banks,” he said.

“We have a re­spon­si­bil­ity to our rate pay­ers and our en­vi­ron­ment and this needed to be re­flected in our in­vest­ment port­fo­lio pol­icy.”

The with­drawal will see the City of Swan move $122 mil­lion in in­vest­ments away from fos­sil fu­els, join­ing 550 other in­sti­tu­tions world­wide that have com­mit­ted to con­sider di­vest­ment.

Swan Val­ley and Gidge­gan­nup Ward Coun­cil­lor Dar­ryl Trease said the City was al­ways look­ing at ways to im­prove its stand­ing as a green or­gan­i­sa­tion.

“The City is al­ready com­mit­ted to be­ing both sus­tain­able and en­vi­ron­men­tally con­scious through a num­ber of green ini­tia­tives,” he said.

“These ini­tia­tives in­clude hold­ing sus­tain­able liv­ing work­shops and pro­grams and sup­port­ing green en­ergy billing op­tions and car­bon off­sets, so the City is proud to add this clause to the list.”

Eight coun­cils in WA and 27 coun­tries na­tion­ally have di­vested from fos­sil fu­els so far.

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