Limitations on Nuclear Weapons Producers
On October 3, 2023, the City of Madison Common Council unanimously voted to adopt the “Limitations on Nuclear Weapons Producers” resolution. The resolution establishes policies and procedures regarding City purchasing and investments related to companies that produce nuclear weapons. It prohibits purchases of more than $50,000 from nuclear weapons producers, prohibits investments in these companies, and limits investments in US Treasury bonds and notes to no more than 20% of the City’s investment portfolio. These limits can be waived under certain conditions, with reporting requirements to the City Finance Committee or action by the Finance Committee to implement any waivers. Public works contracts governed by state law, contracts with other government entities, including the federal government and its related entities, are exempt from these limitations.
The list of companies that this resolution applies to can be found on the Physicians For Social Responsibility Wisconsin website.
For more information about divestment from nuclear weapons producers, please see the following resources:
Purchases over $50,000 cannot be made from nuclear weapons producers without prior authorization from the Finance Director (for purchases between $50,000 and $249,999) or from the Finance Committee (for purchases of $250,000 and above). In order to obtain this exemption, internal City agency staff must complete the waiver form, which can be found on EmployeeNet