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City of Seattle

October 10, 9:10 AM click here to comment > 1

The Reader – Next Steps on Fossil Fuel Divestment

From the Office of Mayor Mike McGinn
News, Updates, and Information
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Next Steps on Fossil Fuel Divestment
Last December, Mayor McGinn outlined the actions the City of Seattle was taking to begin divesting from fossil fuels. Since that time significant progress has been made. Sixteen cities from across the country have joined us in committing to fossil fuel divestment. We’ve also moved forward on a number of fronts here in Seattle.

We stopped investing the City’s cash balances in fossil fuels last winter. Since then, the City’s Deferred Compensation Plan has determined that they can add a new fossil free investment option so that City employees participating in the deferred compensation program can choose to invest their savings in fossil free investment funds. In addition, the Retirement Board commissioned and received an analysis from their financial adviser on divesting from fossil fuels and assault weapons. Based on the recommendations in this report, they have adopted a policy on how to assess and incorporate socially responsible investing into the City’s portfolio.

Read Mayor McGinn’s blog post for more details.

Financial Planning Day this Saturday
Financial Planning Day is this Saturday, October 12 from 10-2 at Garfield Community Center (2323 East Cherry Street)

• FREE, one-on-one personalized financial advice from Certified Financial Planners.
• Credit, debt, and housing counselors and benefits specialists will offer free, one-on-one assistance.
• Workshops on budgeting, credit reports and scores, dealing with debt collectors, and health care reform.
• Application assistance for health insurance coverage through Washington’s new Health Plan Finder.
• Participants can get advice on important financial issues, including: budgeting; credit and debt; investing; retirement; taxes; homeownership and foreclosure; insurance; public benefits; education savings; estate planning; microenterprise, etc.

If you need language interpretation or accommodations, please register online at, or call 1-877-861-7826. Walk-ins are also welcome. The facility is ADA accessible, and we encourage people of all abilities, languages, and backgrounds to attend!

City Council considering 2014 Proposed Budget
The Seattle City Council is currently considering Mayor McGinn’s 2014 Proposed Budget, which includes investments in violence prevention for young adults, Law Enforcement Assisted Diversion, early learning and more. This week, department heads and the budget office are presenting the details of the proposed budget, department by department. The Council will then start considering modifications before adopting a final budget in November.

Residents are encouraged to communicate their priorities to the City Council. The second of two large public hearings will be October 24, 6:00 p.m. (5 p.m. sign up), at Garfield High School Commons – 400 23rd Ave Seattle, WA 98122. For more information and details on other ways to contact the City Council, visit

Community Police Commission seeking input
The Community Police Commission (CPC) is has begun its community engagement efforts around the Seattle Police Department (SPD) reform effort. The City of Seattle established the CPC to provide community input on proposed SPD reforms. Currently, the commission is seeking community input around 4 policy areas: Bias-Free Policing, Stops & Detentions, Use of Force, and In-Car Video Recordings.

To give input, please contact the Office of the Community Police Commission at (206) 233-2664,, or

Upcoming events (for more see
Oct 11, 5:00 p.m. – Magnuson Park Building 30 Grand Opening, 7400 Sand Point Way NE

Oct 12, 9:00 a.m. – Eliminating Racial Inequity in Discipline – A Community Workshop, New Holly Gathering Hall (7054 32nd Ave S)

Oct 12, 10:00 a.m. – Financial Planning Day, Garfield Community Center (2323 E Cherry St)

Oct 12, 12:45 p.m. – Arab Festival, Seattle Center (305 Harrison St)

What we’re reading:
Can Cities Solve Climate Change?

Zulily files for $100M IPO — reveals $331M in 2012 revenue, 2.2M customers

Why Are Coal Industry PR Pros Laughing About Climate Change in Private Talks on Export Terminals?

Introducing Seattle Startup Week: A full slate of events — plus fun collectible cards!

To subscribe to The Reader via email, click here.

Posted by: Nathaniel Merrill


Comment from alpha2actual
Time October 11, 2013 at 6:09 am

While immersed in the Officer Candidate Program, Marine Corps, Quantico, 1967, several of us newly minted Lieutenants would amuse ourselves by observing the antics of the anti-war protestors that would periodically appear in DC. The most hilarious event occurred during an October event when a mob, estimated size 50 to 60 thousand, converged on the Pentagon. Their mission, surround the Pentagon, hold hands, chant and levitate it. I’m not making this up.
The fossil fuel divestment campaign is reminiscent of this excercise in futility. The South Africa Apartheid divestment program accomplished nothing other than generate some publicity. Divesting Endowment Funds of fossil fuel oriented equities, MLP, ETFs, etc. would be irresponsible.