Skip to Main Content View Text-Only

Commissioner Steve Novick

Official Website for Commissioner Steve Novick

Phone: 503-823-4682

fax: 503-823-4019

1221 SW 4th Ave. Suite 210, Portland, OR 97204

Socially Responsible Investing: Draft Proposal for Public Comment

Portland’s financial investments should speak up for our community’s values.   Last year, the City Council took a first step toward this goal when we unanimously adopted a policy that included social responsibility principles for the City’s own financial investments.  The resolutions established a temporary committee to take a look at how the City should apply these principles and immediately added one company, Wal-Mart, to a “Do-Not-Buy List.” 

The temporary committee met through the spring of this year and developed a recommendation, which they presented to City Council on August 6.

I have developed a resolution to implement the committee’s recommendation.  The resolution would create a standing permanent committee to recommend companies for inclusion on, or removal from, the City’s Do-Not-Buy List.  In addition, the resolution would authorize the City Treasurer to purchase a subscription offered by a research firm that specializes in supporting investor decisions about social- and values-based investment.

The draft Council documents are available for review here:

I plan to bring this resolution to City Council for consideration along with a resolution to renew the Council’s direction that the City shall not purchase Wal-Mart securities.  I welcome any comments about these two draft resolutions.  You can, of course, contact me with your thoughts at any time, but sending me your comments by Tuesday, December 9, will ensure that I will have time to consider them before I file the resolutions with the Council Clerk.

Please contact my policy director, Katie Shriver, if you have comments or questions about these resolutions.  Katie’s phone number is 503-823-4682, and her e-mail address is Katie.shriver@portlandoregon.gov.