Ethics won’t enter City of Calgary investment portfolios any time soon.
A move to include social and environmental ethics in the city’s investment plans, shot down at the committee level in a tied vote, was denied again at council yesterday in a 10-5 vote.
“I find it unfortunate that we’d step away from something, because we might be a leader,” said Ald. Brian Pincott.
No municipality in North America includes such measures in its investment decisions. A report further exploring options for ethics-based city investment is expected by June 2010.
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