Nov 7, 2024, Mendocino County — At this Tuesday’s County Board of Supervisors meeting, Supervisors voted unanimously in support of the people’s will. Supervisor Williams agendized a discussion to remove the Royal Bank of Canada from the County’s investment portfolio. It is the seventh largest financier of fossil fuels globally and finances companies that manufacture weapons used to kill civilians across the globe.
At the meeting, the grassroots organization Mendocino County for Ethical Investing (MCEI) delivered an impassioned presentation featuring statements from a diverse group of community members, including several high school students, a retired state department worker, and a climate refugee, and an indigenous rights advocate—all unified in telling the Board why the county should remove its investments in Royal Bank of Canada.
After discussion, the Board unanimously voted to remove the Royal Bank of Canada from the county’s investment portfolio when it reaches maturity in January 2025 and to reinvest the funds in an entity that does not contribute to climate destruction or killing civilians. “People in our community really care about where their tax money is going. We do not want to fund the degradation of our planet and the killing of civilians. The community really showed up to make that clear on Tuesday,” says county resident Katherine Flink.
Last May, feeling helpless because of the escalating deaths in the Middle East and the worsening climate crisis, caring individuals in Mendocino County joined together to figure out what collective action they could take to protect humanity and the planet. They concluded that one of the most effective tools at their disposal is choosing wisely where their tax dollars are invested.
Thus, Mendocino County for Ethical Investing (MCEI) was formed, and the people got to work.
They began a campaign to improve our investment policy and have the county divest funds from entities not in alignment with its stated values. They are circulating a petition that has already garnered nearly 1,000 signatures of support.
“The county has an investment policy that discourages investments in fossil fuels, tobacco, firearms, and weapons not used in our national defense. And yet, our county invests in corporations and institutions such as the Royal Bank of Canada, Bank of America, and Caterpillar, which are major funders of fossil fuels and weapons of war. Why should our taxes be used to contradict the existing investment policy?” says Amelia Taylor, county resident.
MCEI will be following up with the decision made by the Board to ensure its implementation. In January, the Board will conduct its annual review and approval of the county investment policy. MCEI will be present to advocate for necessary changes. As other investments in the portfolio reach maturity, MCEI will follow up with the Board to advocate for divestment from fossil fuels and weapons of war, and for reinvestment in alternatives.
Learn more at mendodivest.org, and reach out to us at mendodivest@gmail.com.