Meeting Low-Light

As mentioned previously, a high-light of the July 8 Council meeting was discussion and approval related to the Navigation Centre on Old Victoria Road as a measure to reduce the number of unhoused persons. But at the end of the meeting came a "low-light" in my opinion. Most motions stem from staff reports and recommendations. Those brought forward by individuals often reflect personal agenda. Such was the case Monday when Councilor Geselbracht requested "That Staff provide a report with options to update the current investment policy to include a percentage of the City's portfolio be in socially responsible (ESG) and low GHG investments. Report to provide: 1.Budgetary considerations for socially responsible investments at 10%, 30%, 50%, 75%, 100% of total city portfolio; and 2. Updated background on fossil fuel disvestment and responsible investing with updated numbers from the October 2021 Staff report and brief summary of practices of lother local governments leading in responsible investment." The motion passes, supported by Councillors Geselbracht, Brown, Eastmure, Manly, and Hemmens. While I must respect the will of Council, I personally feel it is inappropriate virtue signalling based on ideology rather than best practice, and an incredible waste of valuable finance staff time as we head into another budget.