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Finance commission backs narrower socially responsible investment option, removes occupation-based amendment
Summary
The Finance Commission voted to recommend Option 2 from a subcommittee memo on socially responsible investing to the City Council, and directed staff to remove the occupation/human-rights amendment (based on an AFSC list), complete the company appendix and correct memo errors before transmittal; an amendment to narrow sample language in Option 1 passed 4–3.
The Davis Finance Commission voted to send a revised subcommittee memo on socially responsible investing (SRI) to the City Council and to recommend a middle-path policy labeled Option 2.
The subcommittee's memo presented three options for aligning the city's investment policy with community values and a separate, optional occupation-based exclusion drawn from a list maintained by the American Friends Service Committee (AFSC). At the meeting the subcommittee lead said most of the city's current holdings are in pooled or state-managed funds that the commission cannot direct and that two of the memo's options could be implemented by the city's investment manager without additional cost.
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