City of Providence Question 7 - Citizen-Initiated Divestment Ordinance
What does this measure do?
This city law would bar Providence, including its pension fund, from buying bonds of foreign governments found by UN bodies, courts, or U.S. policy to commit genocide, apartheid, or illegal occupation, and from investing in companies that knowingly help them. It does not change taxes.
Proposed by: Citizen petition by Providence for Palestine, a coalition led by Jewish Voice for Peace Rhode Island
A coalition of Jewish Voice for Peace RI, the Democratic Socialists of America, local unions and the housing group Reclaim RI. It wants the city to stop investing in countries it says commit genocide.
Source: nextcity.org
A YES vote means
The city must avoid these foreign government bonds and sell stakes in companies found to knowingly aid such abuses, unless that would break its duty to retirees, and the treasurer must report yearly.
A NO vote means
No new law limits these city investments, and the city keeps its current investment rules.
Sources: browndailyherald.com · pvdeye.org · jta.org · rhodeislandcurrent.com
Source: pbn.com