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Groups ask city to get out of fossil-fuel investing

Morris asked council members to vote in favour of a resolution that will be made by the Association of Vancouver Island Coastal Communities

Representing the local KAIROS Committee and supported by SEAS, WA:TER, and the local branch of CAPE (Canadian Association of Physicians for the Environment), Anne Morris took two requests to City of Salmon Arm Council – divest from fossil fuels

Reading from a letter she had submitted to council, Morris outlined increasing, worldwide concerns about the urgency of combatting climate change immediately and the need to leave at least two-thirds of remaining fossil fuel reserves in the ground.

“In recognition of this challenge, a new movement toward divestment of fossil fuel stocks and bonds has emerged,” read Morris, noting 60 cities and local governments in 10 wealthy countries support full or partial divestment.

“For moral, ethical, and financial reasons, we would like to see the City of Salmon Arm divest from fossil fuels,” she read. “We realize that you could not at present make this commitment because municipal investments and loans are often handled by the Municipal Finance Authority, and the authority does not currently offer an option for non-fossil fuel investments.”

Morris asked council members to vote in favour of a resolution that will be made by the Association of Vancouver Island Coastal Communities to UBCM this fall, asking the Municipal Financing Authority to create a fossil-free investment fund.