Eugene may drop holdings in oil, coal companies

Eugene may drop holdings in oil, coal companies

Eugene may drop holdings in oil, coal companies

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by Associated Press

kgw.com

Posted on January 13, 2014 at 10:07 AM

EUGENE, Ore. -- The Eugene City Council is talking about divesting its holding in oil, gas and coal companies as part of an environmental strategy.

The Register-Guard reports the council scheduled a discussion after the regular Monday night meeting on pulling funds invested in companies such as Chevron, ExxonMobil and Peabody Energy. It's part of a national campaign by environmental groups -- the Mayors Innovation Project and 350.org.

Eugene invests money it collects from property taxes and other sources before spending it. The money goes into a state-sponsored investment pool that includes oil companies. As of the end of December it had about $37 million in the pool. Of that, about half a million is likely invested in oil, gas and coal companies.

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