Boulder City Council again declines to revisit investment policy amid Gaza war divestment push

Boulder City Council on Thursday, Aug. 21, again declined to consider changes to its investment policies to potentially exclude a broader range of weapons manufacturers, its latest decision not to weigh in on issues connected to Israel’s war in Gaza. The first time it took up the question was in February. The council has also declined to vote on a local ceasefire resolution.

The informal vote followed a request from Councilmember Taishya Adams, who last year asked for details on the city’s investments, arguing Boulder has “skin in the game” regarding the war.

Adams pointed specifically to Microsoft, which provides technology used by Israeli officials, and Caterpillar, whose bulldozers have been used to demolish Palestinian homes in the West Bank, according to a recent report from the United Nations’ top human rights body.

“I asked my fellow councilmembers to walk our talk on sustainability, equity and resilience by holding ourselves accountable to our city’s values and goals by removing Caterpillar and Microsoft from our investment portfolio,” Adams said. “Please do not let anyone gaslight you into thinking our city has no power here.”

The question before council was whether any material change of law or fact had occurred since February that would justify revisiting the policy, according to City Attorney Teresa Tate. The council did not take a formal vote but held an informal show of hands. Adams was the only councilmember who raised her hand in support of reopening the issue. 

Mayor Pro Tem Lauren Folkerts and Councilmember Ryan Schuchard had previously supported revisiting Boulder’s investment strategy but did not back the latest effort.

“The resources needed to take this on in a well-considered way are substantial,” Schuchard said. “And it will divert resources from our efforts to increase affordability, create better services and access to them, and to deal with the degraded economy, degraded funding and the chaos coming at us from the federal government.” 

Several residents have repeatedly urged divestment from companies with ties to the war. On Tuesday, about a dozen people held up “Divest!” signs during the meeting. After the vote, Mayor Aaron Brockett called a brief recess when some attendees began shouting at councilmembers.

Boulder’s current investment policy excludes certain fossil fuels, firearms not used in national defense, tobacco and companies tied to detention centers and prisons, according to a city staff memo.