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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 Investment Committee Moves Forward

At its meeting this week, City Council confirmed a complete roster of members nominated for the Socially Responsible Investments Committee. The seven volunteer members have expertise in environmental and conservation issues, labor practices, corporate ethics and governance, corporate taxation, public health and safety, and business. The committee’s first meeting has not yet been scheduled. Information about all meetings, which will be open to the public, will be posted on the committee’s website at http://www.portlandoregon.gov/omf/67101.

Council created this committee in December 2014, charging it with recommending companies for the City’s Corporate Securities Do-Not-Buy List. The list, which is approved by Council annually, identifies those companies in which the City will not directly invest its own money.  In accordance with State law and City policy, Portland does not purchase stocks, but it does invest in corporate bonds and commercial paper.  The committee must make recommendations consistent with Council-approved principles articulated as social and values concerns, including environmental concerns, health concerns including weapons production, concerns about abusive labor practices, concerns about corrupt corporate ethics and governance, concerns about extreme tax avoidance, concerns about exercise of such a level of market dominance so as to disrupt normal competitive market forces, and concerns about impacts on human rights.

If you have any questions about the Socially Responsible Investments Committee, please contact Katie Shriver, policy director for Commissioner Novick, at 503-823-3005.