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Ottawa Citizen

By Leona Fahrig, Ottawa Citizen Letter to the Editor, March 17, 2017

The City of Ottawa has investments in large oil, gas and coal companies. Around the globe, fossil fuels are inevitably being replaced by cleaner renewable energy.

So why will city officials not seriously consider the risk inherent in the city’s endowment fund investments in fossil fuels? This is a question all taxpayers and municipal voters should be asking.

An analysis of these investments by the group 350 Ottawa indicates that over the nine years since inception of the endowment fund in 2007, returns have been between $6 million and $13 million less than they would have been without the holdings in oil, gas and coal.

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