Eugene may drop holdings in oil, coal companies
The Eugene City Council is talking about divesting its holding in oil, gas and coal companies as part of an environmental strategy.
The Register-Guard reports the council scheduled a discussion after the regular Monday night meeting on pulling funds invested in companies such as Chevron, ExxonMobile and Peabody Energy. It's part of a national campaign by environmental groups -- the Mayors Innovation Project and 350.org.
Eugene invests money it collects from property taxes and other sources before spending it. The money goes into a state-sponsored investment pool that includes oil companies. As of the end of December it had about $37 million in the pool. Of that, about half a million is likely invested in oil, gas and coal companies
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