A US pension fund with nearly $2 billion in assets is considering selling its holdings in some of the world's biggest oil and gas companies because of the threat posed by climate change.
In what investor advocacy groups say would be the first divestment of its kind, the Seattle City Employees' Retirement System is to discuss on Thursday a request from Mike McGinn, the city's mayor, to sell out of companies including ExxonMobil and Chevron.
The fund currently has about $17.6 million invested in Exxon and Chevron. And while cynics would surely dismiss such a divestment as mere symbolism, leadership's gotta start somewhere.
UPDATE: Renee Hopkins of the Seattle Police Foundation says they're also discussing divesting from firearms companies. Again, leadership!