- Associated Press - Friday, February 19, 2016

PROVIDENCE, R.I. (AP) - The City Council wants Providence to move forward with divesting from investments in fossil fuel companies.

The council approved a resolution Thursday calling on the Board of Investment Commissioners to sell those investments.

The council says the board agreed to sell city holdings from the largest and dirtiest coal companies, but hasn’t taken further public steps to fully divest from fossil fuels in accordance with a previous directive from the council.

Councilman Seth Yurdin says he’s pleased the board supported divesting from the worst companies, but it’s time to “divest the rest.”

The resolution now heads to the mayor’s office.

If approved or made effective without his signature, the resolution would be transmitted to the board for possible action by the commissioners. The mayor is the board chairman.


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