URBANA — The Urbana City Council has enacted a new policy on ethical investments.
At Monday’s council meeting, officials adopted a policy that prohibits the city from investing in groups that profit from war or conflict.
The policy references two lists of weapons and military service companies that it may no longer invest in going forward: a list from the Stockholm International Peace Research Institute as well as the American Friends Service Committee’s list titled “Companies Profiting from the Gaza
Genocide.”
Champaign resident Al Kagan, a member of UC Jews for Ceasefire, commended the city for taking that step.
“I want to thank you for doing the right thing for the city, both for fiscal safety, and for taking a stand for promoting world peace and a more just world where genocide is no longer tolerated,” he said.
Urbana resident Jacqueline Ross spoke in opposition to the new policy. She defended Israel’s war in Gaza and claimed the measure singles out the country and applies an unfair double standard.
“There is no genocide, and we should not be making foreign policy for the United States in the Urbana City Council,” she said.
Officials said Urbana is the first municipality in the state to adopt an ethical investments policy.
Urbana Finance Director Elizabeth Hannan will be responsible for implementing the new investment guidelines alongside other financial policies.