On 30th Anniversary of Bhopal Gas Disaster, Cambridge (MA) City Council adopts Policy Order to divest from DOW stocks

The Council members of the City of Cambridge Mass. (USA) unanimously adopted a Policy Order on Mon Nov 24 2014 initiated by the office of Councilor Nadeem Mazen. The Order, among other things, asks the City Manager to “confer with the Board of the Cambridge Retirement System to determine if they hold Dow stocks and bonds and what steps can be taken to divest from all manner of engagement with Dow.”

Mazen began his statements regarding the Policy Order by drawing attention to the “extremely grand scale of negligence on the side of Union Carbide.” He went on to add that, “When acquired by Dow for profitable means, the liability of the site still lies with them.”

Mazen also highlighted the continued effects of the gas leak 30 years ago: “There is incredible devastation still at play (in Bhopal) simply because the proper steps have not been taken and that is troubling for all of us, especially if it is something we are complicit in.” He advocated a broader conversation in the city of Cambridge and with its many universities of the nature of investments.

“It is a great first step,” he commented after the policy order was adopted. “Now comes the arduous part of following up with the City Manager over the nature of retirement funds and the presence of DOW stock, if any, but that is something I intend to pursue.”

The Policy Order can be viewed at – http://www2.cambridgema.gov/cityClerk/PolicyOrder.cfm?item_id=44983