Nanaimo council debates socially responsible investing
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Socially responsible investing was the subject of a lively debate around the council table in Nanaimo on Monday.
Councillor Ben Gesselbracht brought forward a motion calling for a staff report with options to update the city’s investment policy to include a percentage of the city’s portfolio in socially responsible and low greenhouse gas emissions.
It narrowly passed following a 5-4 vote.
The issue was debated by the previous council in 2021, who came to a decision to pursue socially responsible and green investments when they were within 5 per cent of maximum available yields.
Nanaimo has around 200 million dollars in various reserve funds.
Midcoast Morning spoke with Gesselbracht, and broke down council’s debate on the subject with Peter Urbanc, CEO of BC’s Municipal Finance Authority (MFA).
Transcript:
Transcription Incoming.
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Guests:
Ben Gesselbracht - Councillor, City of Nanaimo
Peter Urbanc - CEO, Municipal Finance Authority of BC
Program Team:
Joe Pugh — Host and Producer.
Jesse Woodward — Executive Producer.
Arbie Fru — Technical Assistance.
Theme Music:
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