Mendocino County has divested $3 million from the Royal Bank of Canada following a request from the advocacy group Mendocino County for Ethical Investing. The decision was made after the group presented evidence that the investment conflicted with the county’s values and investment policies.
According to Linda Helland, a representative of the group, county auditor Sarah Pearce notified them that the transfer had been completed last month. The organization had raised concerns that the Royal Bank of Canada is a significant investor in industries contributing to climate change and global conflict.
“Our group went to the November Board of Supervisors meeting and presented evidence showing how the county’s investment in the Royal Bank of Canada violated ethical standards,” Helland said. “We also submitted a petition signed by over 1,000 residents urging the county to redirect the funds to more ethical investments.”
Helland expressed gratitude to the county for following through on the request, adding that the organization will continue its efforts to ensure that public funds support ethical and sustainable investments. The group has already begun evaluating other investments in the county’s portfolio and intends to work with local officials to advance the divestment process.
