Posted by on November 25, 2021 1:02 am
Categories: Breaking News Epoch Times News

Irvine to Divest from Companies that Do Not Align With Social Values

The City of Irvine voted Nov. 24 to immediately begin divesting from companies that go against the city’s “social and environmental values.” Council approved the city’s 2022 investment policy by a 3–2 vote, with Councilmen Anthony Kuo and Mike Carroll dissenting. Mayor Farrah Khan, pushed to amend the city’s 2022 investment policy, asking to “divest” from companies currently partnered with the city that are countering the city’s “environmental and social objectives,” and to invest those funds in other companies. These include “fossil fuel” companies such as Exxon—of which the city has $5 million invested—firearm manufacturers, for-profit prisons, anti-LGBTQ organizations, and military-industrial complex entities. “It isn’t particularly difficult for our city to stay away from investments in tobacco products, companies that produce firearms, and the like,” Councilman Larry Agran said at the Nov. 24 council meeting. “We stay away from companies that produce liquor products as well, and for good reason. Those …

Originally appeared on The Epoch Times

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