From a 350.org press release:
This Tuesday, February 5, San Francisco District 11 Supervisor John Avalos will introduce a resolution urging the Retirement Board of the San Francisco Employee’s Retirement System (SFERS) to divest from the 200 corporations that hold the majority of the world’s fossil fuel reserves.
“San Francisco has aggressive goals to address climate change,” said Supervisor John Avalos. “It’s important that we apply these same values when we decide how to invest our funds, so we can limit our financial contributions to fossil fuels and instead promote renewable alternatives.”
If the resolution is approved by the Board of Supervisors, San Francisco would become the second city in the nation to pursue fossil fuel divestment. This December, the Mayor of Seattle pledged to keep city funds out of the fossil fuel industry and urged the city’s pension funds to consider divestment. Avalos is also introducing a resolution today to push SFERS to divest from arms manufacturers.