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Medford council advances values-aligned investment ordinance after marathon public comment
Summary
After hours of council debate and nearly three hours of public testimony, Medford City Council approved a first reading of an ordinance that would direct the city to divest public funds from fossil fuels, weapons manufacturers, private prisons and entities tied to severe human-rights violations. Councilors outlined further legal and implementation review before final action.
Medford City Council approved a first reading on Aug. 5 of a values‑aligned investment ordinance that would require city funds to avoid investments in fossil fuel companies, weapons manufacturers and for‑profit detention operators, among other categories. President Bares introduced the measure as an effort to align municipal investments with community values and to prevent tax dollars from supporting activities the city deems harmful.
The ordinance is designed to rely on an industry screening methodology (MSCI ESG controversies and other international conventions cited in the text) and sets thresholds for divestment in categories such as fossil fuels and private detention. President Bares told the council he had worked for months with staff and the retirement system on language and…
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