"BOSTON — Boston Mayor Michelle Wu signed an ordinance Monday designed to divest the city from fossil fuels.
The ordinance will prohibit the use of public funds from being invested in the stocks, securities or other obligations of any company that derives more than 15% of its revenue from fossil fuels.
The ordinance also extends to companies deriving more than 15% of revenue from tobacco products or private prison industries.
Wu, a former city councilor sworn in as mayor last week, said the move is the culmination of a yearslong push to distance Boston from the fossil fuels that are helping drive the climate change that is threatening the coastal city."
Steve LeBlanc reports for the Associated Press November 22, 2021.
Source: AP, 11/24/2021
