risk, understandable because the past is the only time for which we have numbers. we believe that looking forward we are going to see that the risk are so great that not only are you not going to see more risk by divesting, you are going to see more risk by staying invested in fossil fuels and we feel that strongly and that is one of two key points that i want to make, we can make a case that the security and fossil fuels are becoming subprime assets and secondly, that one no longer needs exposure to fossil fuel to have the return or the so-called return of the modern theory and also note that i am the author of sierra club club.

contaminated water destroyed the farmlands and this is coming to an end. look at how much bp has had to pay for the water horizon and they have unlimited exposure via any suits, look at chevron, held accountable for 19 billion in ecuador and they had to take the expensive step to move out of ecuador to protect their assets and it is not working. ecuador is going after them and other nations. so, on the contrary, the imf

said that in 2011, the united states gave 502 billion, half a trillion dollars to fossil fuel companies in subsidy and other benefits. one images that the willingness of the taxpayers to lavish this kind on the fossil fuel companies would come to an end. >> if you could just take a moment to finish your comments. >> sure, thanks. >> also we have already seen china impose carbon tax and from a purely capitalist point of view, shell oil has noted that fossil fuels are going to make-up as much as 37 percent of total energy used over the decades where renewables. considering the tiny scale of the fuels, the tiny scale of renewable scale. and i know that as an investment manager, that one is stealing the market shares and i know where i want to place my bets. >> thank you, thank you very

much. >> next speaker, please? >> good morning. my name is rebecasolmat and i am a history writer and i am an author of 13 books, many about the city and thank you for letting me sit here and thank you supervisor avalos for your visionary leadership. i want this in the history of the nation and the identity of the city and to be against slavery in 1840 was to be a dreamer and a radical and a political extremist, to be against in 1940 was to be a common, and decent ordinary human being, abolishing slavery erased 4 billion dollars in privately held assets, and doing so did not come easy. you can't compare fossil fuel stocks to slavery, but you can

look at the brutality and injustice, climate change is killing people on a large scale now from displacement, famine, fire and storm. it is killing people through toxic air and water and political violence and destruction of home. we are in bondage to the companies that have under minded our democracy and sabotaging our future in the water and land in the nation and our planet. i make the comparison to slavery because we must make profound changes on what some may portray as extreme impractical and will seem like common sense insanity in a little while. you can get on the right side of history earlier but there is no question at this point which side is right. all of the remaining arguments are about details. policy and profitability and precedent. and about not shifting the status quo. but we know that the fossil fuel status quo does not

represent stability, it represents growing catastrophe. how can we insure a comfortable future for the civil servants by investing in the destruction of our future. san francisco has a history of setting an example in leading wait in the united states on ecological issues. we are where the battle for marriage equality was launched in this very building nine years ago and we are a sanctuary city and a city of vision and catalyst for change what happens here does not stay here it spreads. i believe that the climate change movement is on the cusp of changing the world to make a livable future.

every single one of us has a role to play and for the board of supervisors and the retirement board today that role is to see that san francisco purges itself from the holding in devastation. >> thank you very much. next speaker, please? >> hello my name is rupa maria and i am a physician and professor of medicine at ucsf. there is an expression that i learned is the expression of fuba or found on earth barely alive and what refers to a tragically common experience, while orthopedic surgeons were busy replacing knees they forgot the principles of keeping people alive on service like giving them food and water, it seems hard to believe that you can go to school to learn to be a doctor for 12 years and forget this basic thing, but we suffer as a

culture from tunnel vision and as dak tores we have had to learn the crucial importance because there is no future for a patient whose knee is replaced if they are not kept well with the basic necessities of life, people are saying because of climate change the planet is sick, sighting worthy vents as evidence. that is not so, it might be sick as us, but the planet is fine, it can. what is suffering is our place on the planet which is fragile and other organisms will manage and thrive at the higher temperatures, like the mosquitoes that are spreading disease at alarming rates as the temperatures continue to climb. what is in peril is the future on this planet and the future of our children, we must recognize that what is needed to address this crisis is not

simply the tunnel vision, but rather a piercing look at the whole and a overhaul of these factors, political social and economic that have put us in the situation in the first place, san francisco is a city that inspires people around the world as a beacon for visionary change and we are behind the times of other cities that have taken more approaches to address in climate crisis, i am asking the city to exist the courage needed to divest the pension funds from fossil fuels and stop to feed the cause and put that money into the sustainable solutions that offer a cure, i am asking the city to say how we can do this with you our civil servants. andism asking for this for the hel thing of the whole, this city and this democracy and our place on the planet. thank you.

>> ofer obruk and nick gaceti and there is a member of the committee that i called up as well. >> say your name. >> my name is antoio (inaudible) and i represent the tribe and chief (inaudible) and over 2,000 members of our tribe and all other members of other tribes that have families here in the bay area. i want to say that the divestment of any fossil fuels at all levels by anyone here or everyone here that is able to do something about it, i would ask and urge to do the right thing, for the future of all generations. and i would like to it you for this time and for this hearing. and i say thank you in our

language... [ speaking in a foreign language ] >> thank you. >> hi, everybody, my name is ofer, brock and i study environmental science and policy at uc berkeley. so the science of the climate crisis has already been discussed as have the financial and moral arguments and so i am here to speak about the student-led movement that have emerged due to inaction of the official level and stands at 300 campuses throughout north america, at uc berkeley we have been campaigning to remove the university's endowment assets from the fossil fuel industry for nearly two years and have made several strides in the last six months, for example, this october, our student government would control between 3 and 4 million in assets, to divest its assets from the 200 largest publicly traded fossil fuel companies.

3 other ucs have passed similar resolutions show casing growing support of divestment, as a powerful tactic in the movement to halt climate change and advance climate justice. in march, a coalition of students from several ucs addressed the uc regents and we will continue the dialogue to divest it 70 billion in assets in may at their may meeting in sacramento. >> we are urging them to take up the leadership in this movement. we are calling on the students of san francisco to continue the tradition of progressive action in the realm of environmental and social injustice to join other cities like seattle and move this resolution forward to divest from fossil fuels and reinvest in just and sustain able ventures, i can assure you that if the board moves forward with this resolution, you will have

the unwavering supports of hundreds of thousands of students across the bay area as well as across the nation, thank you for your time. >> thank you very much. >> next speaker. >> and before that speaker, goes on i will name a few other cards. hunter cutting, ash len, ruga, katie hofmann, and jes derban ackerman. >> my name is nick, and i am here on behalf of (inaudible) asu and i look out and i want to thank anyone here representing this movement today and i would like to start by saying that divestment is important to us. there is a lot of phrases that can be used one that i particularly like is taxation without representation. and this is something that we need to address, failing to address this will go against everything that we as environmental studies etc., the students are learning and that has inspired us to lead a

campaign of our own and we are in the process of drafting the resolution asking the demands that the other students across the country are and those demands are halting investments in any fossil-fuel related companies and withdrawing all investments in five years and moving towards the world that, you know, we wish this live in because this is a human rights issue and this is something that can't be ignored any longer and we urge you to divest as a city as well. thank you. >> thank you, next speaker please? >> hi, good morning, supervisors i'm hunter cutting and i am the director for communications for climate nexus and it is a non-profit based in new york and i work here in san francisco. but, if you guys know because i have talked to you before, i am also a parent in san francisco i am raising two kids, the

younger kid goes to (inaudible) middle school and high older kid goes to mission high and since i think and breathe and talk climate change 24/7 i talk to my kids as well and their friends and with so many things, i actually learn a lot out of that. and i lot of things have come into focus for me out of that conversation and i want to share them with you and usually the conversation starts when we talk about what is climate change? >> and that is actually really easy to talk about. there is no big mystery, the science is clear and cut and dried. what can you do about it? there is no big mystery, we need to stop building fossil fueled plants. what is the problem, dad? and that is actually where the conversation gets really complicated. because basically, global warming is not a technical problem it is not a science problem it is a political problem and that is why fossil

fuel divestment is really perhaps the most important thing that we can do. that is why we have a global warming problem not because we don't understand the science, but because there are vested interests that are fighting to maintain the status quo, i think that this board, if it really cares about climate change and i know that you do, you can't but help to move to divestment. so, i think that you guys are asking really great questions about what is the smart way to make that divestment happen and i hope that you pursue that so it can happen thank you very much. >> thank you. >> thank you very much. >> next speaker? >> if you heard your name called, if you could line up along the windows but not blocking the view, that would be great. >> first i would like to express my sincere gratitude for the opportunity to speak

here today, my name is ash len ruga and i am a senior here in the city. it is less than a year ago that i helped to launch the divestment fuel campaign and i made connections with students across the country. if not for this network of committed students and other allies i would not have sent that first e-mail. this is described as the cloud of apath. y, that hangs over the campus, although social injustice is a theme, the students have not been known to fight for it at least until now, the only explanation that i could fathom about this campaign is that i have finally given them hope and there is a solution to the crisis, it has worked before and so now they have a chance to play a role in shaping the future. i attributed the lack of climate activism that the

students are unaware of our reliance or they were getting a degree in we messed up and it is up to your generation to fix it and we are too discouraged to act. through this campaign we have been able to address what is holding people back. our asking for petition signatures has allowed us to look at the issue, that the climate process musting dealt with and that the out look is dire and it is not too late but we need their help as much help as we can get. that is why it is so important to divest san francisco retirement funds on fossil fuel, not only will it send a strong message to those resisting the divestment, but it will fortify the notion that my generation can still hope. in the face of threats to our future, san francisco is show the world that business as usual which has caused so many of the problems that we face today is going to change. and with that change, change comes the preservation of the leavable future that we owe to

generations to come, thank you. >> next speaker, please? >> hello. my name is katie hofmann and i am a very studying environmental science and policy at uk berkeley, this is a busy time leading up to finals for us, i feel that this is more important than class it is about my future and our future, at this very moment, the economic and environmental future of our planet and country are far from certain and now many refuse to acknowledge the nature of the climate crisis and the industry responsible for creating students and concerned citizens across the nation are getting organized and using the tactics at our disposal to leverage our voice and our demand for climate justice and we call on you to join us by moving this bill forward. as students at one of the top research institutions in the world, we will continue to work

with the board and collaborate in the effort to move the assets away from the industry into clean and just technologies and companies that will bring the bay area and sf in particular close to a vibrant sustainable future, thank you for your time. >> thank you. >> next speaker please? >> my name is david seed and members of san francisco, tomorrow, citizen climate and lobby and as board members, we are at 1000 residents community in district five in the stone throw from the chamber, i would like to see it, my community, redevelop to get green show case project with the vibrant community that we can be proud of and i, congratulate supervisor avalos by sponsoring urging the divestment of the companies from the retirement portfolio and place them with

comparable technology. and the resolution is completely in accordance with san francisco being the greenest city in california and encouraging investments in clean tech within the city, the resolution shows the world that san francisco is walking the talk that bio divestment will be in the green technologies and the investment in the companies and they are represented in now and in the future. i hope that this is a start that of the other municipalities in the bay area that will state throughout the u.s. and the world. promote to the nation that the fossil fuel companies that things cannot continue the way that it has been for the sake of our earth, our children and grandchildren, our divestment is no longer a financial and economic issue. it shows the rest of the world that san francisco is taking a moral stance that climate change is unacceptable and that it is destroying the fabric of our lives, and ruining habitats

and destroy our moral fibers. we as residents of this wonderful city have a moral responsibility to prevent at the very least familiar ate the effects of climate changes by our actions. divestment is the right and moral thing to do it makes economic and environmental sense, urging the entire board *f supervisors to pass this resolution, thank you. >> thank you. >> next speaker please? >> good morning. if you want to use the overhead you want to use the mic to your left. put the, no. actually, you know the might be here left, and over hand.

>> good morning and thank you for the opportunity to address you, (inaudible) the director of the city and county of san francisco task force from 2007 to 2009. what i wanted to say is that if we don't collectively reverse the course of chaos, it is a permanent problem that cannot be fixed by anyone at any time. we have a really serious problem and it is hard to evade a sense of urgency because the media is largely absent and it is complicated and this is serious, and this is important, we have got to do something

here. (inaudible) effects of global warming are serious things as not enough food, not enough water, it is hard to explain just how dire the situation is. we thank you supervisor avalos to try to mitigate this, the information by mr. huish the consequences that he mentioned don't get much more dire. therefore, if behoofs us to take action, passing this resolution is one of the few actions that the city could take, doing so, would show that city hall indeed act like a responsibility adult from time-to-time and show that san francisco can be the city that knows how, let's do it. >> thank you, and the next speaker, please? >> and good afternoon, supervisors, and i want to

applaud these previous speakers, especially the wonderful writer over here on what they have said. and i have two children and i think that they would also applaud what you are trying to do here today in terms of utilizing your intellect and being able to put it into words in terms of what our society needs to do in order to take care of itself into the future. now i believe that by poking holes in the ground, and bringing up a liquid that is dirty is not a good idea. this dirty liquid oil, if it seeps into the underground water supply will contaminate the water. clean water is essential to the life itself. when that dirty fuel has been used to prepare the economy it contaminates the air, the clean air is essential for life to exist. and when i filled out the card it asked me what organization i belonged to, i didn't fill it

in, i should kind of take care of number one here. i have a small business in san francisco snoen as solar power, it is dormant, but i hope to turn it into a wonderful small business into the future. and also, i will convey a message over the phone to a great friend of mine who has influence over one of the largest mutual fund companies in this country thank you very much. >> next speaker please? >> good morning, thank you supervisor avalos and everybody else. i am (inaudible) i am the resident (inaudible) of the theater in the tender loin and i want to give a national perspective on what we are living, i spent most of last year in new guinea which is in the south pacific and it is the

most diverse place on earth and there are over 80 languages and it is tribal country. and quite a few people that i met there spoke to me about the changing weather patterns there. there was always a clear, dry season and a clear rainy season and now things are jungled and the temperatures are out of whack and the rain is coming down when it is not supposed to and when it is supposed to. and people are live entirely off the land growing crops and it is hard with the average culture to plan when things are no longer as they have been forever, and i bring this up because these people like ingenious people and the people of poor throughout the world are the ones who most immediately would be strangely impacted by climate change and they are the people with the least resources to effect this

issue and that is the country that gave birth to the auto industry, which is not the only but a huge factor in what is happening with the climate and we as americans, we have, as i said, that the people have talked about the moral duty and we have key partners and it is definitely up to us to be key partners in the solution. thank you. >> thank you. let me call a few more cards. and if you hear your name line up. >> the first person called can come up. >> pat gerber adam (inaudible) and nick (inaudible) we already had. and michael sanbrono and gina luna and aaron stomreston and tom mcduna. >> good morning, and thank you again, mr. supervisor. my name is adam sherman and i am also a member of the san francisco state university of

fossil free divestment and i am the chairman of the under graduate committee which is to put simply is to preserve the integrity in the impending graduation of the senior members and first of all i want to commend everyone for showing up and you are showing an incredible amount of support what i want to say is that a lot of the activities that happen on the san francisco state campus are often concurrent, recent report within our environmental studies says that we are on track for within the next five to seven years, both the city and the university to achieve 0 waste, this is incredible and shows how the great minds are thinking alike and i highly, commend it and i urge that this continues, both parties are doing an incredible job. there is also a clause in the sfsu foundation policy that

says that we as the university do not in any way con donor invest in the social responsible and civil right abusers and in many cases these big oil and gas are, whether subtly or not. >> i want to commend everybody for coming out here and showing the support and believing in the same thing, i highly urge that we great minds and we parties continue to think alike and continue forward. thank you. >> thank you very much. >> next speaker, please? >> hello, my name is michael sombrono and i am here from the university divestment and i want to thank those who showed up and especially those from sf state and i want to give a sigh let applause to that. >> i am here to support the fund from divestment. as mr. avalos said the climate crisis is only getting worse with the fossil fuel emissions that we are releasing. it is something that we can do locally and make the impact globally, we need to lead the way and take the stre