City Council Votes on DAPL Divestment and 2018 Investing Policy

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Date/Time
Date(s) - Tuesday, September 19
2:00 pm - 5:00 pm

Location
Santa Barbara City Hall

Categories


Held in the Council Chamber.

There are three big votes at this meeting. All three support the city Resolution in Solidarity with Standing Rock and the vote on 100% Renewable Energy by 2030:

1.  The sale/non-continuation (Divestment) of all city investments in DAPL banks. The recommendations by the finance committee, if adopted, will allow the sale of Wells Fargo ($2,000,000) and Goldman Sachs ($250,000) holdings. A $4,000,000 holding with Union Bank (Bank of Tokyo/Mitsubishi) will expired soon and should not be renewed.

2. Santa Barbara will be issuing a Request for Proposals (RFP) for banks applying to be the new bank for the City of Santa Barbara. The City Council will also be voting on the Finance Committee’s recommendations that investment and fossil fuels and specifically DAPL will count heavily as negative points for any applying banks.

3. For the first time in our city’s history, it is proposed that Socially Responsible Investing (SRI) will be included in the City Investing Policy for 2018. SRI will give a legal basis for and permission to the City of Santa Barbara to invest ethically, taking the into account how our investments affect our society and the environment.

EVERYONE is needed to show up! Bring signs! Public comments welcome!

Hosted by Divest SB and Santa Barbara Standing Rock Coalition.
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