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After heated public hearing, Alameda County directs treasurer to draft ethical investment policy with 90-day timetable
Summary
The Board directed Treasurer Hank Levy to draft an ethical investment policy after a polarized public hearing about divestment and human-rights screening; the treasurer asked for 90 days to produce a draft and raised implementation questions about negative screening vs. positive/impact investing.
The Alameda County Board of Supervisors on Dec. 10 voted to direct County Treasurer Hank Levy to develop an ethical investment policy, after a lengthy and at times emotional public hearing in which more than 100 people spoke for and against divestment.
Supervisor Keith Carson introduced the directive, saying the county should align its investments with community values and consult stakeholders including communities of color and unions. "We're going to propose and the board would have to take an action on it, to direct the treasurer to develop an…
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