March 26, 2026
Santa Clara County Treasury Oversight Committee
Dear Santa Clara County Treasury Oversight Committee Members,
The Sierra Club Loma Prieta Chapter supports the efforts of this Committee to consider modifying section 4.8 of the County of Santa Clara Board Policy Manual relating to the Treasury Investment Policy to include language prohibiting future investment in fossil fuels.
We hope this Committee considers the following language when making its recommendation to the Board of Supervisors.
"The County shall update its investment policy to reflect this guidance by amending 4.8 Treasury Investment Policy, section 4.8.7 Eligible, Authorized and Suitable Investments, subsection on "Socially and Environmentally Responsible Investments" to include the following language.”
“No new investments shall be made in fossil fuel companies defined as any publicly-traded company that owns reserves of coal, oil, or gas, or that owns coal-fired power plants."
Communities in Santa Clara County and globally are suffering from the negative effects of Climate Change, including increased extreme heat events and unhealthy air quality. Local leadership is essential, now more than ever, to prevent investments in fossil fuels that cause these impacts. This policy would align the County’s investments with its values, and can send strong market and political signals to companies, municipalities, and agencies in order to further reduce emissions.
Thank you for your consideration.
Sincerely,
Dashiell Leeds
Conservation Coordinator
Sierra Club Loma Prieta Chapter