Boston Mayor Michelle Wu signed an ordinance on Nov 22 that prohibits the use of city funds in investments in the fossil fuel industry. It is Mayor Wu’s first major policy action since being sworn in on Nov 16.
The ordinance requires the city to divest public funds out of stocks, securities, and other obligations from any company that derives more than 15% of its revenue from coal, oil, natural gas, and fossil fuel products.
It’s expected to pull $65M out from the fossil fuel industry, and was unanimously approved by the Boston City Council. The measure also applies to companies with more than 15% revenue from tobacco products or private prison industries.
‘We’re moving quickly to make sure that Boston will set the tone for what is possible for that brightest, greenest future for all of our kids,’ said Wu during a signing ceremony at Boston City Hall.
The coastal city is already facing impacts from the climate crisis. In addition to coastline flood risks, extreme heat is posing significant health risks to Boston residents.
‘My older son Blaise was born in the first year that I served in this building and the first year that we started to hear it was the hottest year ever on record,’ said Wu. ‘Since then, his six years alive on this planet have been our hottest on record.’
Divestment efforts from fossil fuels to combat the climate crisis are not new. In June, Maine became the first state to divest public funds from fossil fuels. In January, two pension funds in New York City announced they were pulling $4B in investments from fossil fuel companies.
Wu is the first woman and person of color to be elected mayor of Boston.

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24 Nov
Climate activists from Ocean Rebellion mockingly ‘vomited’ oil onto the ground outside of the International Maritime Organization (IMO) headquarters in London.
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24 Nov
Dollar Tree announced on Tuesday that it is permanently raising its prices $1.25 for most products because of cost increases in merchandise and operating.
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23 Nov
On November 17, General Motors opened its first facility to build all-electric vehicles. The Factory ZERO EV assembly plant’s site in Detroit, MI, will reportedly utilize recycled stormwater and solar energy and include wildlife habitat.
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23 Nov
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23 Nov
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The plane is driven by a 400kW electric powertrain and a propulsion battery pack that Rolls-Royce claims to be the ‘most power-dense’ ever created in aerospace.
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The Thomas Jefferson statue, which has stood in NYC’s City Hall for more than a century, has been the subject of much debate and controversy. The Public Design Commission voted unanimously to remove it after 187 years because Jefferson owned slaves.
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The decision to remove the statue of Thomas Jefferson from its prominent pedestal illustrates how symbols of injustice toward minorities can become offensive, particularly when monuments are located in public areas like City Hall.
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