Santa Clara County Takes a Stand: Celebrating Fossil Fuel Divestment

Mark Grossman
6 days ago
2 min read

Santa Clara County has made a bold move that signals a growing shift in how local governments address climate change. On April 28, after numerous residents gave comments - both in person and via Zoom - in support, the Supervisors approved a change to investment guidance that will permanently divest County assets from fossil fuels, a step that has been met with enthusiasm and celebration in a press release from the Silicon Valley Youth Climate Alliance (SVYCA) along with 350SV and other coalition partners. This action not only reflects a commitment to environmental responsibility but also highlights the power of youth activism in shaping public policy.

Why Divestment Matters

Divestment means removing investments from companies involved in extracting or producing fossil fuels such as coal, oil, and natural gas. These industries are major contributors to greenhouse gas emissions, which drive global warming and climate disruption. By divesting, Santa Clara County is sending a clear message that it will not support industries that harm the planet.

This decision is significant for several reasons:

Financial Responsibility: Fossil fuel assets face increasing financial risks due to regulatory changes, market shifts, and the global move toward renewable energy. Divesting protects public funds from these risks.
Moral Leadership: The county is showing that climate action can be integrated into financial decisions.
Youth Influence: The role of young activists in pushing for this change demonstrates the impact of community engagement and advocacy.

What This Means for Santa Clara County

Santa Clara County’s policy will now mean no further purchases of bonds issued by fossil fuel companies. It ended its last such bonds last August.

The county’s decision also aligns with California’s broader climate goals, including reducing greenhouse gas emissions and promoting environmental justice.

How do Bay Area communities do it

Santa Clara County’s action is a continuation of other local divestment efforts. These are the key elements that we and our partners use get this to happen.

Engage Youth and Community Groups: Involve young people and activists in decision-making processes.
Conduct Financial Reviews: Assess current investments for climate risks and opportunities.
Set Clear Goals: Define what divestment means and establish timelines.
Communicate Transparently: Keep the public informed about progress and challenges.
Invest in Sustainability: Redirect funds to projects that support clean energy and social equity.