Institutions move their money, too

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http://www.mercurynews.com/business/ci_23967612/santa-clara-valley-water-district-votes-divest-from?source=rss

Santa Clara Valley Water District votes to divest from fossil-fuel companies
Joining a movement based on the 1980s push to divest from South African companies in a protest against apartheid, the Santa Clara Valley Water District board has decided to pull investments out of companies believed to contribute to global warming.

The unanimous vote to divest from 200 of the top fossil fuel companies aligns the water district with a nationwide movement that has been taken up by cities, universities and churches. While the San Jose-based water district is the first Silicon Valley government agency to take up the ban, similar votes have passed in Berkeley, San Francisco and Richmond as well as 14 cities in other states.

Water district director Brian Schmidt, who led the push for divestment, said it makes sense for the agency to join the cause.

"We are confronting and adapting to climate change impacts on water supply, flood control and watershed restoration, so we shouldn't be funding the same companies that are the cause of these problems," said Schmidt.

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