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City of Seattle Divestment Moves Forward

On Thursday, the Finance and Culture Committee of the Seattle City Council unanimously accepted amended language into Resolution 31525 that specifies that the City Council and the Mayor are urging therein that the SCERS (pension) board move forward on divestment.

The resolution itself won’t be voted on by the full council for a few weeks, but it’s looking like a solid bet. If it passes, it will be a big boost for divestment in the city’s pension fund (which is where the real money is), and a big step forward for both fiscal caution (“carbon bubble?” ask Seattle retirees, “what carbon bubble?”) and for Washington’s credibility as a sustainability leader.

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