4d) Discussion and Possible Action Regarding a Request that the County Treasurer Plan to Divest from Royal Bank of Canada
(Sponsor: Supervisor Williams)
As a recently arrived resident of Mendocino county having come here after the Camp Fire burned my community down I, and my family, are now what are called “climate migrants”, yet another name for those that have been dramatically affected by the climate emergency.
I am in full support of agenda item 4D, to divest from the Royal Bank of Canada for their continued investment of fossil fuels, their investments in weapons of mass destruction, and their human rights violations towards the indigenous population of Canada.
Thank you Mr. Williams for putting this item on the agenda.
I am a 2nd generation mendocino County resident, a teacher, a mother and a citizen. I strongly support divesting from Rotal Bank of Canada because I don't want our tax dollars to go towards further abusing the planet and humanity. Divesting will be us in alignment with values that most Mendocino County residents share.
My name is Abilene, I am a resident of Fort Bragg California, and am a member of your constituency. I care about climate change and divestment from fossil fuels and weapons because I care deeply for the environment, people, and Mendocino County. I was born and raised in Fort Bragg California, and the beautiful nature in Mendocino County helped me become the person I am today. It is also one of the reasons I am currently attending University of California Berkeley to study Society and the Environment and English. I am going to college to gain the skills to help make a difference in my community in Mendocino County, in California, and in the world. By divesting from weapons and fossil fuels, you will be helping me and many other youth activists achieve this goal and ensure that our futures are protected.
If we do not divest from weapons and fossil fuels, the nature and natural resources we enjoy and love here in Mendocino County will cease to exist. Some of my best memories, childhood and otherwise, were of swimming in the ocean at the beach and playing in the sand with my dog and little brother. And, going on hikes with my family in the forest or in the dunes, or swimming in the Eel river. If we do not act quickly, future generations may not be able to experience these beautiful moments because of the effects of climate change fueled by fossil fuels. We have been seeing climate changes’ effect on the community for years, from the deadly and catastrophic wildfires that have devastated our communities, the blooms of toxic algae in our rivers and lakes, the droughts, and the devastation of ocean ecosystems due to ocean warming and the resulting economic effects.
It is unfortunate that our tax dollars are contributing to these issues, and they don't have to. Sometimes, we feel powerless to help stop many of the issues that plague our world, but one of the powers we do have is to put our money where our morals are. Mendocino County just passed a County Resolution Declaring Climate Emergency in which the county vows to take swift and urgent action against climate change. If Mendocino County really wants to take swift and urgent action against climate change they should no longer hold $6,000,000+ in the Royal Bank of Canada, which is one of the top 12 financiers of fossil fuels in the world. The Royal Bank of Canada bond is reaching maturity in our portfolio in January, making it the perfect opportunity to drop our holding and reinvest in something that supports climate, and humanity, and is as local as possible. We can address the other banks we are invested in as they reach maturity.
In addition, the Royal Bank of Canada finances weapons of war, which have a huge impact on the environment. These weapons generate immense waste and debris, hazardous materials like asbestos, chemicals, and fuels. They also can damage industrial facilities which can cause chemical spills and resulting land and water contamination. (UNEP)
In all, I urge you to divest from the Royal Bank of Canada for the sake of future generations, and the preservation of everything we hold near and dear in our community.
I support the divestment of Royal Bank of Canada, which is a major fiancier of fossil fuels. Thank you Supervisor Williams for ths agenda item. Mendocino County should follow it's current investment policy and not invest in fossil fuels or weapons of war.
Good morning Mendocino Board of Supervisors,
As a county constituent, land owner and of course tax payer for 24 years I care very much that my dollars are not used to fund fossil fuel production and weapons used for scorched earth projects.
I do thank you for unanimously voting to intend to make our county more resilient to climate migration and carrying capacity issues that desperately need sustainable, long term planning. Resolution 24 targets carbon dioxide and seeks clean energy solutions. YES, to supporting its renewal, agenda item 3d).
Part of Res. 24 states “The county must do everything in its power to encourage a swift transition to a low carbon economy…and to move towards an ecologically, socially, financially sustainable economy.” This means we need to stop investing in banks like the Royal Bank of Canada and Bank of America which are highly invested in both fossil fuel products and offensive weapons. For this reason I strongly support agenda item 4d)!
We need to reinvest county tax dollars in our local and regional bank/credit unions’ projects that keep labor and resources local. Unfortunately, we need an honest reevaluation on our current investment policy that states “investments discourage in entities that receive a significant portion of their revenues from the manufacturer of fossil fuels… or weapons not used in our national defense.” Please make this an agenda item for the near future.
This is why a group of concerned constituents have petitioned you with close to 1,000 signatures in order to take the first step of changing our investment policy from reading “discourage” to “prohibit”. We will continue to follow our county’s pool of investments and hope that together we can find ways to increase carbon storage on county lands; plan sustainably and not kill innocents to make money.
lastly I also support 3e) but there must be enforcement on our no hack and squirt proposition.
some helpful links of good investment approaches.
https://www.hayward-ca.gov/sites/default/files/documents/Adopted-FY-2024-Investment-Policy-012324.pdf
file:///C:/Users/Francesca/Downloads/3.%20County%20of%20Sonoma%20Climate%20Resilience%20Comprehensive%20Action%20Plan.pdf.
Sincerely Francesca Ciancutti
9351 north highway 1- Mendocino, ca. 95460
I am a retired Mendocino resident living on the coast. I support divestment from the Royal Bank of Canada, because of their fossil fuels and weapons involvement. I oppose having my tax dollars going to support anything that will increase climate change or fuel war, particularly where civilians and children are bombed.
As a former educator and grandparent, I stand for the generations following me, who will reap the consequences of our actions now. If there is any way we can send a message it is through how we invest our tax dollars.
Thank for your consideration, Elizabeth Stover, Mendocino, 95460
I live in Willits and believe that global change starts at home right in our community. I strongly support Mendocino County divesting from any businesses or organizations that support war crimes or providing support to oil companies which worsen the climate crisis. This seems like a really straightforward choice to make and like there's no reason we should still be involved with this kind of activity.
It is my understanding that our friends and neighbors of Mendocino county, generally, are quite well informed and concerned about Global Warming and the effects of our human use of non renewable fuels. If we have moved not to fund nonrenewable companies of our own we should not fund them for other countries companies, Canada obviously included.
Please, think of our Earth and our future before you enable the funding of such destructive actions. The investment policy should say "prohibit" funding of non-renewable fuels and the sale of weapons to. others
Respectfully,
Sandra Marshall
631 Grove Avenue # 1
Ukiah, CA 95482
707-272-2968
I am a resident in Philo, 95466. The county's investment policy must be updated to strictly regulate our investments in fossil fuels and weapons manufacturing, as its current language insufficiently prevents our taxpayer money from contributing towards human rights violations and environmental destruction. Your constituents urge you to update the county investment policy language to say "prohibit" instead of "discourage" and to divest the county's holdings from Royal Bank of Canada.
My name is Dobie Dolphin. I'm a long time resident of Mendocino County, a volunteer at the Noyo Center and a supporter of the Blue Economy. Thank you Supervisor Williams for putting this item on the agenda. I wholeheartedly support the county divesting from investments in fossil fuels and weapons not used in national defense and I urge the Board to change the wording in the county investment policy from "discouraging" to "prohibiting" these investments. I encourage the county to move away from supporting fossil fuels by divesting from its holdings in the Royal Bank of Canada, the world's largest funder of fossil fuels in 2022, having invested $263 billion in fossil fuel companies. It's feels overwhelming to try to affect change on a federal and even a state level, but along with many Mendocino County residents I'd like to see the Board of Supervisors take a stand and be a positive force for change, as opposed to continuing to contribute to climate change by investing in companies that promote fossil fuels and weapons. Investing locally can have a positive effect on the economy and the well being of the residents of Mendocino County. Thank you, Dobie Dolphin, Albion, 95410.
I am a local educator who cares about our future on local and international levels and I am writing to say I fully support this agenda item. Our tax dollars and county portfolio must support sustainability and life, not climate destruction and human rights abuses. It was a great first move to create the investment policy that "discourages" investment in fossil fuels, weapons of war, etc., but it needs some fine-tuning as it is put into practice. Divesting from Royal Bank of Canada is an important first step to putting the philosophy of the investment policy into action, as well as adding stronger wording to ensure we do not keep investing our county resources in the wrong places. We can do this! Thank you to Supervisor Williams for introducing this. I hope all Supervisors will support this. I will be following this issue closely along with other community members.
I support agenda item 4D. Our property tax dollars should not be invested in fossil fuel production. It goes against the will of Mendocino County's people and worsens a bad climate situation.
Please stop investing in arms production. Thank you for putting item 4D on the agenda for your consideration. I appreciate the opportunity to address this seriously important issue with the supervisors.
My name is Brittany Dilley, and I am a constituent and homeowner in Fort Bragg, 95437. I am a nurse, educator, and nature enthusiast deeply concerned about the health, safety, and sustainability of both our current and future generations. I believe we are facing a serious threat from climate change, which requires urgent action on a global scale. However, meaningful change often starts at the community level.
Our county investment policy discourages investment in fossil fuels and weapons not used in national defense and I urge county officials to adhere to this policy. I call on our county to take the lead in promoting sustainability by divesting from companies and financial entities that invest in the fossil fuel industry and weapons of war.
I just received my property tax bill. I want to make sure that the County uses my tax dollars to support the planet and all its inhabitants. Do not use my tax dollars to support the fossil fuel industry and weapons of war not used in the national defense. Thank you
My name is Abraham Cohen, and I am constituent of Mendocino county living in Fort Bragg, 95437, where I grew up. I am a young homeowner, and my partner and I long to start a family to carry our community into the future. However, as for many folks in our generation, anxiety around climate change and widespread armed conflict significantly impacts our confidence about the wisdom of bringing children into this world. I do not support my tax dollars funding continued exacerbation of climate change and environmental degradation through investment in fossil fuels--nor the production of weapons designed to destroy human lives. Our county investment policy discourages investment in fossil fuels and weapons not used in national defense, and I want to see county officials living up to that policy. Please join other California counties by divesting in companies and financial entities that invest in the fossil fuel industry and weapons of war.
Thank you, Supervisor Williams, for sponsoring this agenda item.
While the Board did pass a Resolution to discourage investments in fossil fuels, the funds Mendocino County invests in the Royal Bank of Canada are definitely financing the fossil fuel industry globally. We should, without delay, divest from the Royal Bank of Canada. Sara Pierce, Acting Auditor-Controller/Treasurer-Tax Collector, in her letter for this Agenda's Item 3g suggested the need to evaluate investments for social and environmental concerns. We must not be contributing to the dire threat that fossil fuels are causing to our lives now and in the near future.
As a 50-year resident of Mendocino County I speak up to request divesting our county's funds from the Royal Bank of Canada because many of its investments are in fossil fuels that cause great harm to our and the world's environment. The majority of county residents believe destructive global heating is caused by those fossil fuels and do not want our tax dollars to help cause more damage to our planet and its people. Please hear our voices and vote accordingly. Thank you. Tom Wodetzki, Albion
The upcoming opportunity in January for Mendocino County to divest its holdings in the Royal Bank of Canada presents the greater opportunity for the County to demonstrate—in action—its stated policy regarding investments in fossil fuels and weapons of war not used for national defense. Beyond this, here is an even greater, generational opportunity to act—in a manner within our power—against the present threat of climate collapse.
George Russell, Mendocino County resident since 2002
I support agenda item 4d sponsored by Supervisor Williams. I support requesting the County Treasurer to divest from Royal Bank of Canada.
I am a constituent and have lived in the 5th. District since 1983.
I am a mother, grandmother, and educator and believe that we need to do what’s right. Our children and grandchildren will thank us for doing what we believe is the right thing to do.
Royal Bank of Canada is among Mendocino County for Ethical Investing targeted investments because it reaches maturity in January of 2025, as well as for the following reasons:
• It is the 7th largest financier of the fossil fuel industry globally, providing over $42 billion US in funding.
• It helped to make possible the Coastal GasLink fracked gas pipeline, stamping on indigenous rights.
• It is a large financier of Palantir, a surveillance company whose AI products are used to target civilians across the world, along with financing other large weapons companies Raytheon, Lockheed Martin, and Boeing.
The County’s Investment Policy reads, “Investments are discouraged in entities that
receive a significant portion of their revenues from the manufacturer of fossil fuels, tobacco
products, firearms, or weapons not used in our national defense.”
The Board of Supervisors unanimously passed a Resolution that renewed the declaration of a
local emergency related to climate change. The Resolution states, “The severity and urgency of the climate change crisis necessitates swift and urgent action to protect the County’s residents, environment, and future generations; and the County of Mendocino must do everything in its power to encourage a swift transition to a low-carbon economy to mitigate economic risks and capture emerging opportunities in renewable energy and sustainable technologies, and to move towards an ecologically, socially, and financially sustainable economy.”
Why would we still invest in Royal Bank of Canada? It is high time that our investments align with our values and correlate with our Policies and Resolutions.
Funds could be reinvested in more socially responsible corporations, ideally closer to home. “Renewable energy and sustainable technologies” are much better investments. Certain “clean” investments have even been recognized as having better returns.
Other counties in California have stopped investing in fossil fuels that add to the climate crisis. Other counties in California have also stopped investing in weapons of war that kill civilians.
Let’s join them!
After you divest from the Royal Bank of Canada I hope that your Investment Policy can be strengthened by stating clearly that Mendocino County does not invest in revenues from the manufacturer of fossil fuels, tobacco products, firearms, or weapons not used in our national defense.
As Chair of the Coast Democratic Club, representing the Club Leadership Team, I request that the Board of Supervisors adopt the recommended action. We stand for environmental accountability. We encourage the County Board of Supervisors to support this request. Karen Bowers
As a recently arrived resident of Mendocino county having come here after the Camp Fire burned my community down I, and my family, are now what are called “climate migrants”, yet another name for those that have been dramatically affected by the climate emergency.
I am in full support of agenda item 4D, to divest from the Royal Bank of Canada for their continued investment of fossil fuels, their investments in weapons of mass destruction, and their human rights violations towards the indigenous population of Canada.
Thank you Mr. Williams for putting this item on the agenda.
I am a 2nd generation mendocino County resident, a teacher, a mother and a citizen. I strongly support divesting from Rotal Bank of Canada because I don't want our tax dollars to go towards further abusing the planet and humanity. Divesting will be us in alignment with values that most Mendocino County residents share.
My name is Abilene, I am a resident of Fort Bragg California, and am a member of your constituency. I care about climate change and divestment from fossil fuels and weapons because I care deeply for the environment, people, and Mendocino County. I was born and raised in Fort Bragg California, and the beautiful nature in Mendocino County helped me become the person I am today. It is also one of the reasons I am currently attending University of California Berkeley to study Society and the Environment and English. I am going to college to gain the skills to help make a difference in my community in Mendocino County, in California, and in the world. By divesting from weapons and fossil fuels, you will be helping me and many other youth activists achieve this goal and ensure that our futures are protected.
If we do not divest from weapons and fossil fuels, the nature and natural resources we enjoy and love here in Mendocino County will cease to exist. Some of my best memories, childhood and otherwise, were of swimming in the ocean at the beach and playing in the sand with my dog and little brother. And, going on hikes with my family in the forest or in the dunes, or swimming in the Eel river. If we do not act quickly, future generations may not be able to experience these beautiful moments because of the effects of climate change fueled by fossil fuels. We have been seeing climate changes’ effect on the community for years, from the deadly and catastrophic wildfires that have devastated our communities, the blooms of toxic algae in our rivers and lakes, the droughts, and the devastation of ocean ecosystems due to ocean warming and the resulting economic effects.
It is unfortunate that our tax dollars are contributing to these issues, and they don't have to. Sometimes, we feel powerless to help stop many of the issues that plague our world, but one of the powers we do have is to put our money where our morals are. Mendocino County just passed a County Resolution Declaring Climate Emergency in which the county vows to take swift and urgent action against climate change. If Mendocino County really wants to take swift and urgent action against climate change they should no longer hold $6,000,000+ in the Royal Bank of Canada, which is one of the top 12 financiers of fossil fuels in the world. The Royal Bank of Canada bond is reaching maturity in our portfolio in January, making it the perfect opportunity to drop our holding and reinvest in something that supports climate, and humanity, and is as local as possible. We can address the other banks we are invested in as they reach maturity.
In addition, the Royal Bank of Canada finances weapons of war, which have a huge impact on the environment. These weapons generate immense waste and debris, hazardous materials like asbestos, chemicals, and fuels. They also can damage industrial facilities which can cause chemical spills and resulting land and water contamination. (UNEP)
In all, I urge you to divest from the Royal Bank of Canada for the sake of future generations, and the preservation of everything we hold near and dear in our community.
I support the divestment of Royal Bank of Canada, which is a major fiancier of fossil fuels. Thank you Supervisor Williams for ths agenda item. Mendocino County should follow it's current investment policy and not invest in fossil fuels or weapons of war.
Good morning Mendocino Board of Supervisors,
As a county constituent, land owner and of course tax payer for 24 years I care very much that my dollars are not used to fund fossil fuel production and weapons used for scorched earth projects.
I do thank you for unanimously voting to intend to make our county more resilient to climate migration and carrying capacity issues that desperately need sustainable, long term planning. Resolution 24 targets carbon dioxide and seeks clean energy solutions. YES, to supporting its renewal, agenda item 3d).
Part of Res. 24 states “The county must do everything in its power to encourage a swift transition to a low carbon economy…and to move towards an ecologically, socially, financially sustainable economy.” This means we need to stop investing in banks like the Royal Bank of Canada and Bank of America which are highly invested in both fossil fuel products and offensive weapons. For this reason I strongly support agenda item 4d)!
We need to reinvest county tax dollars in our local and regional bank/credit unions’ projects that keep labor and resources local. Unfortunately, we need an honest reevaluation on our current investment policy that states “investments discourage in entities that receive a significant portion of their revenues from the manufacturer of fossil fuels… or weapons not used in our national defense.” Please make this an agenda item for the near future.
This is why a group of concerned constituents have petitioned you with close to 1,000 signatures in order to take the first step of changing our investment policy from reading “discourage” to “prohibit”. We will continue to follow our county’s pool of investments and hope that together we can find ways to increase carbon storage on county lands; plan sustainably and not kill innocents to make money.
lastly I also support 3e) but there must be enforcement on our no hack and squirt proposition.
some helpful links of good investment approaches.
https://www.hayward-ca.gov/sites/default/files/documents/Adopted-FY-2024-Investment-Policy-012324.pdf
file:///C:/Users/Francesca/Downloads/3.%20County%20of%20Sonoma%20Climate%20Resilience%20Comprehensive%20Action%20Plan.pdf.
Sincerely Francesca Ciancutti
9351 north highway 1- Mendocino, ca. 95460
I am a retired Mendocino resident living on the coast. I support divestment from the Royal Bank of Canada, because of their fossil fuels and weapons involvement. I oppose having my tax dollars going to support anything that will increase climate change or fuel war, particularly where civilians and children are bombed.
As a former educator and grandparent, I stand for the generations following me, who will reap the consequences of our actions now. If there is any way we can send a message it is through how we invest our tax dollars.
Thank for your consideration, Elizabeth Stover, Mendocino, 95460
I live in Willits and believe that global change starts at home right in our community. I strongly support Mendocino County divesting from any businesses or organizations that support war crimes or providing support to oil companies which worsen the climate crisis. This seems like a really straightforward choice to make and like there's no reason we should still be involved with this kind of activity.
Hello Mendocino County board of Supervisors,
It is my understanding that our friends and neighbors of Mendocino county, generally, are quite well informed and concerned about Global Warming and the effects of our human use of non renewable fuels. If we have moved not to fund nonrenewable companies of our own we should not fund them for other countries companies, Canada obviously included.
Please, think of our Earth and our future before you enable the funding of such destructive actions. The investment policy should say "prohibit" funding of non-renewable fuels and the sale of weapons to. others
Respectfully,
Sandra Marshall
631 Grove Avenue # 1
Ukiah, CA 95482
707-272-2968
I am a resident in Philo, 95466. The county's investment policy must be updated to strictly regulate our investments in fossil fuels and weapons manufacturing, as its current language insufficiently prevents our taxpayer money from contributing towards human rights violations and environmental destruction. Your constituents urge you to update the county investment policy language to say "prohibit" instead of "discourage" and to divest the county's holdings from Royal Bank of Canada.
My name is Dobie Dolphin. I'm a long time resident of Mendocino County, a volunteer at the Noyo Center and a supporter of the Blue Economy. Thank you Supervisor Williams for putting this item on the agenda. I wholeheartedly support the county divesting from investments in fossil fuels and weapons not used in national defense and I urge the Board to change the wording in the county investment policy from "discouraging" to "prohibiting" these investments. I encourage the county to move away from supporting fossil fuels by divesting from its holdings in the Royal Bank of Canada, the world's largest funder of fossil fuels in 2022, having invested $263 billion in fossil fuel companies. It's feels overwhelming to try to affect change on a federal and even a state level, but along with many Mendocino County residents I'd like to see the Board of Supervisors take a stand and be a positive force for change, as opposed to continuing to contribute to climate change by investing in companies that promote fossil fuels and weapons. Investing locally can have a positive effect on the economy and the well being of the residents of Mendocino County. Thank you, Dobie Dolphin, Albion, 95410.
I am a local educator who cares about our future on local and international levels and I am writing to say I fully support this agenda item. Our tax dollars and county portfolio must support sustainability and life, not climate destruction and human rights abuses. It was a great first move to create the investment policy that "discourages" investment in fossil fuels, weapons of war, etc., but it needs some fine-tuning as it is put into practice. Divesting from Royal Bank of Canada is an important first step to putting the philosophy of the investment policy into action, as well as adding stronger wording to ensure we do not keep investing our county resources in the wrong places. We can do this! Thank you to Supervisor Williams for introducing this. I hope all Supervisors will support this. I will be following this issue closely along with other community members.
I support agenda item 4D. Our property tax dollars should not be invested in fossil fuel production. It goes against the will of Mendocino County's people and worsens a bad climate situation.
Please stop investing in arms production. Thank you for putting item 4D on the agenda for your consideration. I appreciate the opportunity to address this seriously important issue with the supervisors.
My name is Brittany Dilley, and I am a constituent and homeowner in Fort Bragg, 95437. I am a nurse, educator, and nature enthusiast deeply concerned about the health, safety, and sustainability of both our current and future generations. I believe we are facing a serious threat from climate change, which requires urgent action on a global scale. However, meaningful change often starts at the community level.
Our county investment policy discourages investment in fossil fuels and weapons not used in national defense and I urge county officials to adhere to this policy. I call on our county to take the lead in promoting sustainability by divesting from companies and financial entities that invest in the fossil fuel industry and weapons of war.
I just received my property tax bill. I want to make sure that the County uses my tax dollars to support the planet and all its inhabitants. Do not use my tax dollars to support the fossil fuel industry and weapons of war not used in the national defense. Thank you
My name is Abraham Cohen, and I am constituent of Mendocino county living in Fort Bragg, 95437, where I grew up. I am a young homeowner, and my partner and I long to start a family to carry our community into the future. However, as for many folks in our generation, anxiety around climate change and widespread armed conflict significantly impacts our confidence about the wisdom of bringing children into this world. I do not support my tax dollars funding continued exacerbation of climate change and environmental degradation through investment in fossil fuels--nor the production of weapons designed to destroy human lives. Our county investment policy discourages investment in fossil fuels and weapons not used in national defense, and I want to see county officials living up to that policy. Please join other California counties by divesting in companies and financial entities that invest in the fossil fuel industry and weapons of war.
Thank you, Supervisor Williams, for sponsoring this agenda item.
While the Board did pass a Resolution to discourage investments in fossil fuels, the funds Mendocino County invests in the Royal Bank of Canada are definitely financing the fossil fuel industry globally. We should, without delay, divest from the Royal Bank of Canada. Sara Pierce, Acting Auditor-Controller/Treasurer-Tax Collector, in her letter for this Agenda's Item 3g suggested the need to evaluate investments for social and environmental concerns. We must not be contributing to the dire threat that fossil fuels are causing to our lives now and in the near future.
As a 50-year resident of Mendocino County I speak up to request divesting our county's funds from the Royal Bank of Canada because many of its investments are in fossil fuels that cause great harm to our and the world's environment. The majority of county residents believe destructive global heating is caused by those fossil fuels and do not want our tax dollars to help cause more damage to our planet and its people. Please hear our voices and vote accordingly. Thank you. Tom Wodetzki, Albion
The upcoming opportunity in January for Mendocino County to divest its holdings in the Royal Bank of Canada presents the greater opportunity for the County to demonstrate—in action—its stated policy regarding investments in fossil fuels and weapons of war not used for national defense. Beyond this, here is an even greater, generational opportunity to act—in a manner within our power—against the present threat of climate collapse.
George Russell, Mendocino County resident since 2002
I support agenda item 4d sponsored by Supervisor Williams. I support requesting the County Treasurer to divest from Royal Bank of Canada.
I am a constituent and have lived in the 5th. District since 1983.
I am a mother, grandmother, and educator and believe that we need to do what’s right. Our children and grandchildren will thank us for doing what we believe is the right thing to do.
Royal Bank of Canada is among Mendocino County for Ethical Investing targeted investments because it reaches maturity in January of 2025, as well as for the following reasons:
• It is the 7th largest financier of the fossil fuel industry globally, providing over $42 billion US in funding.
• It helped to make possible the Coastal GasLink fracked gas pipeline, stamping on indigenous rights.
• It is a large financier of Palantir, a surveillance company whose AI products are used to target civilians across the world, along with financing other large weapons companies Raytheon, Lockheed Martin, and Boeing.
The County’s Investment Policy reads, “Investments are discouraged in entities that
receive a significant portion of their revenues from the manufacturer of fossil fuels, tobacco
products, firearms, or weapons not used in our national defense.”
The Board of Supervisors unanimously passed a Resolution that renewed the declaration of a
local emergency related to climate change. The Resolution states, “The severity and urgency of the climate change crisis necessitates swift and urgent action to protect the County’s residents, environment, and future generations; and the County of Mendocino must do everything in its power to encourage a swift transition to a low-carbon economy to mitigate economic risks and capture emerging opportunities in renewable energy and sustainable technologies, and to move towards an ecologically, socially, and financially sustainable economy.”
Why would we still invest in Royal Bank of Canada? It is high time that our investments align with our values and correlate with our Policies and Resolutions.
Funds could be reinvested in more socially responsible corporations, ideally closer to home. “Renewable energy and sustainable technologies” are much better investments. Certain “clean” investments have even been recognized as having better returns.
Other counties in California have stopped investing in fossil fuels that add to the climate crisis. Other counties in California have also stopped investing in weapons of war that kill civilians.
Let’s join them!
After you divest from the Royal Bank of Canada I hope that your Investment Policy can be strengthened by stating clearly that Mendocino County does not invest in revenues from the manufacturer of fossil fuels, tobacco products, firearms, or weapons not used in our national defense.
Thank you for considering my comments.
Annemarie Weibel, Albion
As Chair of the Coast Democratic Club, representing the Club Leadership Team, I request that the Board of Supervisors adopt the recommended action. We stand for environmental accountability. We encourage the County Board of Supervisors to support this request. Karen Bowers