Task Force on Sustainable Banking and Investments

Task Force Final Report Available for Review

• Final Report (March 22, 2022)

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Documents Establishing Task Force:

• Resolution 2021-31 Establishing a Task Force on Sustainable Banking and Investments
• Resolution 2021-45 Appointing Members to the Task Force
• Resolution 2021-47 Appointing a Substitute Member to the Task Force

The Task Force has two purposes:

1. Define and identify steps to implement sustainable banking and investment policies that fulfill both the City’s nuclear-free and climate change goals, including:

a. review the City’s policy statements and the recommendations of the Nuclear Free Committee and the Committee on the Environment,

b. build on previous staff efforts and consultant advice,

c. explore best practices and actions taken by other communities,

d. define “sustainable” investments and identify specific city financial functions to be included, and

e. work with city staff and consultants to recommend to Council the specific next steps on implementing these policies.

2. Review and recommend updates to the implementation specifics of the nuclear-free ordinance, to best fulfill the purposes of the ordinance and to coordinate with the city’s greenhouse gas emissions reduction goals and other priorities, including:

a. clarify how the ordinance should apply to City uses and impacts of nuclear generated electric power as well as nuclear weapons,

b. update specific tasks and assignments in the ordinance,

c. consider specific tasks assigned to the Nuclear Free Committee, such as review of existing City contracts, awards, purchase orders; annual list of nuclear weapons producers; recommendations on transport of high-level nuclear waste; research on waivers of purchasing requirements; and outreach, and education on nuclear weapons issues.

The Task Force should consider the potential impacts of changes to city banking and investment policies, including positive and negative impacts on climate change, health, safety, housing affordability, racial equity, and other factors.

Members of the Task Force on Sustainable Banking and Investments

Task Force on Sustainable Banking and Investments Agenda and Minutes

Documents of Interest

• Takoma Park Nuclear-Free Zone Act