Paul Soglin file photo

Madison Mayor Paul Soglin

Mayor Paul Soglin announced Thursday that Madison will join nine other U.S. cities in a campaign to encourage divestment of city funds from the fossil fuel industry.

Madison and Bayfield join cities from five other states, including Seattle and San Francisco, in an effort to discourage municipal investment in fossil fuels. The campaign is led by 350.org — an international organization devoted to addressing climate change — and the Mayors Innovation Project.

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In San Francisco, city supervisors voted this week to urge the city's nearly $16 billion pension fund to divest more than $583 million from fossil fuel companies.

Soglin said Madison doesn't have any funds invested in fossil fuel companies but will introduce a resolution encouraging the Madison School District, Dane County, UW-Madison, the state and other local governments to divest their holdings in the industry.

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