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San Jose council accepts staff'recommended investment policy after hours of public comment on divestment
Summary
After hours of public testimony on whether city funds should avoid companies tied to ICE, the San Jose City Council voted to accept staff'recommended updates to the investment policy while directing staff to study peer cities'approaches and return with implementation details.
The San Jose City Council on April 1 accepted staff'recommended updates to the city'investment policy after a prolonged and at times heated debate over a proposal to restrict future investments in companies with ties to U.S. Immigration and Customs Enforcement. The council also directed staff to provide additional analysis of peer-city divestment efforts and operational guidance for any restrictions.
Supporters of limits on future investments packed the public comment period, arguing that the city's portfolio should reflect San Jose's sanctuary-city commitments. "I urge council members to have the City of San Jose divest from the genocidal Israeli government," said Joan Simon of the San Jose Peace and Justice Center, part of a broader set of comments urging divestment from Alphabet, Microsoft, Amazon, Caterpillar and Honeywell. Other speakers framed the move as a matter of aligning public funds with human-rights values…
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