10/11/2022 City of Mountain View Media Release City of Mountain View
Office of the City Manager
500 Castro St., 3rd Floor
Mountain View, CA 94039

Subject :

City of Mountain View Calls on State’s Local Investment Advisory Board to Responsibly Invest in Companies that Support a Sustainable Environment
Contact : Lenka Wright
Chief Communications Officer

City’s efforts for carbon neutrality could arrive 10 years early

Mountain View, Calif. — The City of Mountain View is encouraging the State of California’s Local Investment Advisory Board (LIAB) to discourage or prohibit some investments due to their negative impact on the environment and/or community, including investments in companies that engage in the direct exploration, production, refining, or marketing of fossil fuels.

Last month, on behalf of the City Council, Mayor Lucas Ramirez wrote to LIAB, asking the board to consider addressing environmentally and socially responsible investing as part of its investment strategy.

The board provides oversight for the Local Agency Investment Fund, which is a voluntary program created by state statute that “offers local agencies the opportunity to participate in a major portfolio, which invests hundreds of millions of dollars, using the investment expertise of the State Treasurer's Office professional investment staff at no additional cost to the taxpayer.”

The City makes significant funding investments in the Local Agency Investment Fund. No word yet on whether the state board will adjust its current investment practices.

Meantime, to further Mountain View’s leadership in sustainability and resiliency efforts, the City is exploring what actions are needed to reach carbon neutrality by 2035, which would be 10 years ahead of schedule. In 2020, the City Council passed a resolution for Mountain View to become a carbon-neutral city by 2045.

Early next year, the Council Sustainability Committee and City Council will discuss the timeline for Mountain View striving to become carbon neutral as well as hear about the feasibility and possible strategies to reach this accelerated goal for carbon neutrality in Mountain View. Strategies will include transitioning transportation and buildings to 100% clean and renewable energy.

For more details about the City’s sustainability and resiliency efforts, visit MountainView.gov/Sustainability.

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About the City of Mountain View
Located between the Santa Cruz Mountains and San Francisco Bay, Mountain View is a diverse community with an estimated population of 83,864. Mountain View covers just over 12 square miles, featuring over 1,000 acres of park and wildlife areas including the 750-acre wildlife and recreation area called Shoreline at Mountain View. In the heart of Silicon Valley, Mountain View is home to a vibrant downtown and headquarters to many nationally and internationally known corporations including Google, LinkedIn, Intuit and NASA’s Ames Research Center. For more information, visit MountainView.gov.