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Residents urge Chino Hills to divest $2.5 million bond holdings from Caterpillar; council notes limits of city authority
Summary
Two residents urged the council to adopt a divestment policy to remove the city's $2.5 million Caterpillar bond holdings, alleging the company’s products are used in human rights abuses; the council did not act and staff noted portions of statements were outside the scope of city business.
During the public comment period two residents urged the council to divest the city's $2.5 million Caterpillar bond holding and asked for a broader city divestment policy targeting companies involved in alleged human rights abuses.
A resident identified as Jasser said the city’s $2,500,000 Caterpillar bond creates a connection to overseas conduct and urged the council to adopt divestment policies that would exclude companies he described as complicit. A second speaker, Sarah, pressed the council to act and used strong language criticizing council priorities and alleging the council had ignored previous constituent requests; she cited archived video timestamps to argue the council had been silent in an earlier meeting.
City Attorney Hensley clarified that the last portion of one speaker's remarks was not city business, and the council did not take action on divestment at the meeting. Staff and council suggested residents use legislative tracking tools and contact the state insurance commissioner or their legislators for policy change at higher levels of government. No motion or staff direction to pursue divestment was recorded in the transcript.
