2.C 20-492 Action on Investment Management Services Agreement with PFM Asset Management LLC and Approval of Related Budget Amendment [Council Pillar: Manage Strategically Our Workforce Capacity and Resources]
I just checked the City's Investment Policy Document. I don't see any guidance there restricting investments to socially responsible companies and avoiding companies involved with tobacco and fossil fuels. Some years ago I was told that we don't hold investments in fossil fuel companies. The policy document allows for commercial paper, corporate notes and mutual fund investments. Guidance should be given to PFM to avoid tobacco and fossil fuel products.
I just checked the City's Investment Policy Document. I don't see any guidance there restricting investments to socially responsible companies and avoiding companies involved with tobacco and fossil fuels. Some years ago I was told that we don't hold investments in fossil fuel companies. The policy document allows for commercial paper, corporate notes and mutual fund investments. Guidance should be given to PFM to avoid tobacco and fossil fuel products.