Image created by Jordan Lugibihl
In August, when the $3.1 million in Berkshire Hathaway bonds that the City of Aspen holds mature, the city will not be repurchasing.
It’s not for lack of performance. The funds have done tolerably well. Rather, the Berkshire Hathaway bonds are tainted by a bad environmental record.
The city wants its $131 million in investments to reflect Aspen’s values. That most prominently means walking away from carbon.
“The City of Aspen is taking the first steps to putting our money where our mouth is,” says Mayor Torre (he goes by one name). “I anticipate a two-year process to fully divest from the investments that don’t reflect our community values. Our intention is to be fiscally responsible as we get policy in place to guide our banking and investments to meet our environmental, social, and governance expectations.”