CCAN Applauds D.C. for Divesting its $6.4 Billion Pension Fund from Fossil Fuels

For Immediate Release

CCAN Applauds D.C. for Divesting its $6.4 Billion Pension Fund from Fossil Fuels

WASHINGTON - Today, D.C. Councilmember Charles Allen joined environmental and philanthropic leaders to announce that the District of Columbia Retirement Board (DCRB) has divested its $6.4 billion fund from all direct investments in 200 of the world’s most polluting fossil fuel companies. On Tuesday, June 7th, the D.C. Council will vote on a ceremonial resolution honoring the DCRB's action.

This week's announcement follows a three-year campaign led by DC Divest, a citizens group dedicated to promoting divestment in the District of Columbia.
 
Mike Tidwell, director of the Chesapeake Climate Action Network (CCAN), issued the following statement in response:

“The District of Columbia Retirement Board deserves our applause for taking bold and decisive action to divest from fossil fuel companies. Global warming is already causing record flooding, heat and storms in D.C. and across our region, threatening our health, economy and future. We must take immediate action, and the District is taking a big step forward by cutting financial ties with oil, gas and coal companies that are responsible for creating this crisis and blocking our path to solutions. 
 
"We cannot and must not back down when it comes to fighting for a cleaner, safer future. This win on divestment is one of many more to come in making the nation's capital a leader on climate action."
 
###

The Chesapeake Climate Action Network (CCAN) is the first grassroots, nonprofit organization dedicated exclusively to fighting global warming in Maryland, Virginia, and Washington, D.C. Our mission is to build and mobilize a powerful grassroots movement in this unique region that surrounds our nation’s capital to call for state, national and international policies that will put us on a path to climate stability. - See more at: http://www.chesapeakeclimate.org/index.php?option=com_k2&view=itemlist&layout=category&task=category&id=7&Itemid=11#sthash.9cgEG60o.dpuf

Share This Article