The City of Peterborough is looking to join a joint investment board of Ontario municipalities managed by ONE Investing in order to diversify its investment portfolio.
A report from city staff cites a hope to reduce the city’s long-term reliance on the residential tax base by improving investment returns as reasons to adopt ONE’s Prudent Investor program.
However, some councilors expressed concerns about potential fossil fuel investments when the strategy was presented to council at general committee on August 4th.
Listen to hear some of the debate from that night.
