She’s right: “We are a very poor city.” —Cr Hilary Calvert

### ODT Online Mon, 27 Apr 2015
Ethical policy decision tomorrow
By Vaughan Elder
The Dunedin City Council is set to make a final decision tomorrow on whether to dump investments in fossil fuel extraction. The vote comes after councillors were hailed as visionary when they voted in favour of an ethical investment policy, which also includes divesting from investments in tobacco, arms, gambling and pornography, for the $82.5 million Waipori Fund. […] Cr Hilary Calvert, who voted against divestment last year, said she could understand why others supported the policy, but divestment was a luxury the council could not afford.
Read more

—

█ Report – Council – 28/04/2015 (PDF, 1.0 MB)
Updated Statement of Investment Policy and Objectives for Socially Responsible Investing

█ Report – Council – 28/04/2015 (PDF, 428.2 KB)
Waipori Fund – Report for Quarter Ending March 2015

—

Posted by Elizabeth Kerr

Whaleoil: Rodney Hide on Dunedin’s Luddite Council

Ever since Helen Clark allowed councils general competence we have seen debt burgeon and empire building of armies of council staff increase. It is time to rein in the excesses. The reforms have largely failed. I’m not even sure we need local councils in any case….except to just provide essential services. –Cameron Slater

### whaleoil.co.nz May 24, 2014 at 5:00pm
Rodney Hide on Dunedin’s Luddite Council
By Cameron Slater
Rodney Hide excoriates the Dunedin City Council for their embracing of a buggy culture. [NBR paysite]

“I was taken aback by Dunedin City Council committing to invest ethically. I would have thought it was already beyond reproach. But it turns out it’s not about the council not taking back-handers and the like but rather what it can and can’t invest in. Henceforth, it won’t invest in porn, munitions, tobacco or gambling. Seriously? Was investing in porn ever in prospect? I once took a paper to the cabinet to circumscribe council activity. I wanted to limit them to core services. To buttress my argument, I had examples of the nutty investments that councils had entangled ratepayers in. I remember dairy farms, property development, Lotto shops and cinemas. My concern wasn’t ethical investing but rather local government’s proper role. I wanted councils to stick to basics. I didn’t succeed but would have had a chance with the Dunedin example: a council having to make a rule to stop itself investing in pornographic movies.”
Read more

█ It matters enormously that city leaders are declaring fossil fuel extraction unethical. –Rodney Hide

—

Posted by Elizabeth Kerr