5.. Madison’s Mayor Endorses Fossil Fuel Divestment Movement
Madison Mayor Paul Soglin has joined other mayors from around the country in advocating for the city of Madison to steer clear of investing any city funds in fossil fuel industries, and said he intends to introduce a resolution that encourages the Madison Metropolitan School District, Dane County, the University of Wisconsin, the State of Wisconsin, and other local governments to join the City in these efforts and divest their own holdings from fossil fuel companies.
In a news release posted on the city’s website last week “Mayor Soglin Urges Madison to Continue Divestment from Fossil Fuels”, the mayor says the fossil fuel divestment movement has already spread to 300 colleges and universities and is spreading to faith communities as well. Last November, Mayor Mike McGinn in Seattle became the first mayor in the country to commit to keep city funds out of the fossil fuel industry and look into ways to divest the city’s pension fund.
The divestment campaign is coordinated by a coalition of groups led by 350.org, an international climate campaign headed by author Bill McKibben who spoke in Madison last November. The effort is modeled on the 1980s divestment campaigns that targeted investments in apartheid South Africa.