Supporting a Global Cities-Led Movement to Divest from Fossil Fuels and Invest in Climate Solutions
Adopted at the 88th Annual Meeting in 2020
WHEREAS, given the scale of the pandemic's impact, cities must take new and bold action to accelerate an economic recovery that recognizes our looming climate crisis and the threats to public health and well-being that it will cause; and
WHEREAS, this pandemic has exposed long-standing disparities in our society, much like how the climate crisis will produce greater impacts on frontline communities in disparate ways; and
WHEREAS, we as mayors can choose to emerge stronger and more resilient from this crisis with a green recovery that prioritizes clean energy infrastructure, job creation, and environmental justice; and
WHEREAS, a green recovery can put cities at the forefront of ending the age of fossil fuels and pursuing a just transition to a clean energy economy by divesting their investments from fossil fuels and investing in climate solutions like clean energy, resilient infrastructure, energy efficiency, and a just transition; and
WHEREAS, as we consider how to rebuild our economy from the pandemic, we must achieve a massive transformation that rebuilds lives, promotes equality and prevents the next economic, health or climate crisis; and
WHEREAS, divesting from fossil fuels is not only the right thing for the planet but can also deliver better financial returns and underscores the opportunities to better manage and reduce environment and climate-related risks for our cities and pension funds and build more resilient, sustainable cities that grow the green economy and jobs, create better public health outcomes, address environmental injustices, and drive equitable development while reducing the harmful effects and risks of climate disaster; and
WHEREAS, mayors across the country have already begun to divest from fossil fuels and invest in climate solutions, demonstrating the impact of strong political will and financial foresight; and
WHEREAS, mayors can demonstrate climate leadership by making a commitment to divest from fossil fuels and invest in climate solution, and by calling on other investors, endowments, and foundations to follow suit,
NOW, THEREFORE, BE IT RESOLVED, that The United States Conference of Mayors strongly urges cities across the globe to explore divesting from fossil fuels and invest in climate solutions to support a green recovery and a just transition.