We’re campaigning to divest Philly from nukes. Two of the financial institutions that manage the Pension Board’s assets — Lord Abbett and Northern Trust — collectively have billions invested in nuclear weapons. By investing pension funds with these asset managers, the City of Philadelphia is fueling the nuclear weapons industry. We’re urging the Philadelphia Board of Pensions to instruct these asset managers to put a screen on the City’s investments to exclude the top nuclear weapons producers from the City’s holdings.

Divestment is doable! Dozens of major cities across the U.S. and around the world have divested from weapons. Philadelphia has a history of divestment including from guns, private prisons, and Russia. It’s time to divest from nuclear weapons too!

Divestment is timely. Philadelphia has already endorsed the international Treaty on the Prohibition of Nuclear Weapons through City Council resolution #190841. And the City Council has passed resolution #210010 calling on the Pension Board to adopt a socially and environmentally responsible investment policy. Divesting from nuclear weapons is the next logical step. 

Divestment isn’t risky. According to a study by Heidi Garrett-Peltier of the Political Economy Research Institute, investments in healthcare, education, and clean energy create more jobs — and in many cases, better-paying jobs — than military sector spending.