Link Divestment to Community Choice?

divestimgThe last several months has witnessed an intensified opposition in the Bay Area to fossil fuel expansion: from the growing fight against Obama’s Keystone Pipeline, to the building of a statewide campaign to ban oil fracking in California, to the divestment of Big Oil stocks by public institutions in the Bay Area. These fights against the fossil fool industry has highlighted the alternative, specifically the development of local clean energy resources.  And since the alternative to fossil fuel-based electricity requires massive investment in new infrastructure, what better way to finance this investment than through the divestment of fossil fuel holdings? For example, a robust Community Choice program in San Francisco to build local renewable energy assets calls for about $1 billion of financing over the next ten years. The divestment of fossil fuel holdings by the San Francisco Employee Retirement System ($583 million) could provide half that amount. So efforts to establish Community Choice energy in San Francisco, Sonoma County, and in the East Bay—all of which have been moving forward this spring—have a natural ally in the divestment movement. To keep informed about these developments, be sure to subscribe to Local Clean Energy News and Alerts.

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