County supervisors support fossil fuel divestment

The Dane County Board of Supervisors passed a measure to ban investment of county funds in stocks or bonds from fossil fuel businesses at its June 6 meeting.

While the measure is “largely symbolic,” according to a press release, Supervisor and primary legislation sponsor Kyle Richmond said in a phone interview that local citizens' concerns about climate change inspired him to push the legislation. He specifically mentioned the organization 350.org [1], a national group that focuses on climate change and has a local Madison chapter, as strong organizers around the issue.

The resolution itself points to multiple scientific findings that support the concept of global warming and its origins in human activity as motivation for divestment.

“We really have run out of time. It’s not about doing it next year or year after. The earth is in a state of rapid climate change now, so it’s the responsible thing to do,” Richmond said.

According to Richmond, Dane County may be the first county in the United States to support divestment legislation, and the resolution itself asks other local governments, the University of Wisconsin and the state of Wisconsin to join in support of divestment.

“What we really want to do is create a political environment where it’s dangerous to go ahead and say ‘business as usual,’” Richmond said. “If local governments put their voice behind it and state officials hear that and federal officials hear that then we can help change things more critically.”

Richmond said going forward, this resolution is an “initial step,” which he hopes will lead to a larger discussion of county investment in different energy areas.

The resolution passed unanimously with one abstention.