- 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.

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide