To: Portland Mayor Ted Wheeler and Portland City Commissioners Jo Ann Hardesty, Mingus Mapps, Carmen Rubio, and Dan Ryan

We the undersigned call upon the City of Portland to update its investment policy to be in line with city values and resolutions previously passed by the city. In Decemember 2021, the City of Portland issues a new investment policy that allows it to invest in corporate securities, except for those outlined in a "prohibited industries" list. 

This prohibited industries list does not currently include nuclear weapons manufacturers, even though the city passed a resolution opposing nuclear weapons and supporting the Treaty of the Prohibition of Nuclear Weapons in 2019. The prohibited industries list does include oil, but does not prohibit all fossil fuels as it says nothing about coal and gas, despite the city having passed an ordinance banning new fossil fuel infrastructure in 2019 and having passed numerous resolutions supporting climate justice. We urge the members of Portland City Council to update the city's investment policy to ensure that it prohibits any investments in nuclear weapons and all fossil fuels, and to create a process for public input into additional values-based investing. It is time for the City of Portland to invest in a truly nuclear-free and fossil fuel-free future. 

Sincerely,