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Record #: R2021-1305   
Type: Resolution Status: Re-Referred
Intro date: 11/17/2021 Current Controlling Legislative Body: Committee on Health and Human Relations
Final action: 1/26/2022
Title: Call for assessment of city holdings, sale of existing investments in weapons manufacturers, and adoption of socially responsible investment policy prohibiting future investments in weapons producing companies
Sponsors: Ramirez-Rosa, Carlos, Vasquez, Jr., Andre, La Spata, Daniel , Hadden, Maria E. , Taylor, Jeanette B. , Rodriguez Sanchez, Rossana , Rodriguez, Michael D., Sigcho-Lopez, Byron, Martin, Matthew J.
Topic: CITY COUNCIL - Miscellaneous, - CITY DEPARTMENTS/AGENCIES - City Treasurer
Attachments: 1. R2021-1305.pdf
CITY OF CHICAGO




ALDERMAN RODERICK T. SAWYER CHAIRMAN
COMMITTEE ON HEALTH AND HUMAN RELATIONS CITY COUNCIL CITY HALL - ROOM 300 121 NORTH LASALLE STREET CHICAGO, ILLINOIS 60602




PHONE: 312-74 4-1367 FACSIMILE: 312-744-2870
January 20, 2022
City Council Meeting
January 26, 2022


To President and Members of the City Council:

Your Committee on Health and Human Relations to which was referred a communication on calling for assessment of city holdings, sale of existing investments in weapons manufacturers, and adoption of socially responsible investment policy prohibiting future investments in weapons producing companies (Alderman Ramirez-Rosa)
Re-referral to the Committee on Finance R2021-1305
begs leave to report and recommend that your Honorable Body, Approve the proposed communication transmitted here with.

This recommendation was concurred in by a viva voce vote of the Committee on Health and Human Relations.


Respectfully submitted,


Roderick T. Sawyer, Chairman Committee on Health and Human Relations

Committee on Health and Human Relations
City Council November 17, 2021

RESOLUTION

WHEREAS, Chicago is currently investing taxpayer dollars in the War Machine through its pension funds, which are invested in weapons manufacturers and war profiteers. The Chicago Teachers Pension Fund (CTPF) owns $138,236,150 worth of shares in Lockheed Martin, $281,320,958 in Raytheon, and $1,840,000,000 in Boeing. Similarly, the Municipal Employees' Annuity & Benefit Fund (MEABF) is managed by groups that hold direct investments in weapons manufacturers, including but not limited to Segall Bryant & Hamill, Parametric, Neuberger Berman, JPMorgan, and Acadian. These investments prop up violence and militarism both at home and abroad, a direct contradiction to what should be the City's primary role of protecting the health and well-being of its residents; and

WHEREAS, the War Machine is the massive, global U.S.-based military apparatus that prioritizes corporate interests o...

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