Frequently Asked Questions (FAQ) About the Ethical and Socially Responsible Investment Charter Amendment Petition
The following answers are in response to questions we have received about the charter amendment.
1. How can you be sure that the County’s investment funds are invested in unethical stocks?
We do know from public records that are available and general fund reports that Howard County has invested in pooled funds which generally have large corporations — including fossil fuel companies, weapons manufacturers, and human rights violators. The issue is, we don’t precisely know what corporations the County is invested in since there is no requirement for full disclosure today. This amendment requests transparency. If the County’s investments are already ethically aligned, then there would be little that would have to change.
2. Will this amendment lower the County’s investment returns?
Not necessarily. Multiple studies have established that ESG-driven funds perform as well and, in some instances, better than traditional funds. This revision requires responsible financial stewardship — for example, long-term risk management — and only mandates ethical screening “to the extent permitted by law and fiduciary duty.” The County can protect public funds while still being true to community values.
3. Am I really voting on the charter amendment when I sign this petition?
No. All signing the petition does is request that the amendment be put on the ballot so everyone in Howard County can have the right to decide that for themselves. It doesn’t state your personal opposition or support for the amendment — but your support for democratic process and people’s choice.
4. Doesn’t the County already have ethical investment policies?
The County’s present investment criteria are safety, liquidity, and return. Although it does make allowance for “social investing,” it has no requirement or structural basis for excluding unwanted investments. This amendment would incorporate binding principles in the Charter and oblige the County Council to enact and uphold an ethical investment policy via public law.
5. Is this not a political stunt that will bind the County’s hands?
This is a matter of responsibility and principle, not politics. The amendment is carefully written to be consistent with Maryland law and respectful of the County Council’s jurisdiction to enact it. It establishes a framework — not a mandate — and preserves discretion in how ethical principles are administered.
6. Will this conflict with the County’s budget or involve extra expense?
No. The County already has investments and controls in place. The amendment does not appropriate funds or new spending. It permits, but does not require, compensation to board members if such a board were established. The County can carry out the policy within its current structure and budget.
7. What type of investments would be exempted?
Investments in corporations that make money from war, prisons, fossil fuels, environmental degradation, monopolization of housing, or violations of human rights — like those involved in apartheid or child labor — could be excluded. These criteria will be defined and updated by the County Council through public process.
8. What type of investments would be most suitable?
The amendment fosters investments that are beneficial to community welfare: affordable housing, clean energy, infrastructure, worker cooperatives, and local economic development. They can also be sound economic investments.
9. Why change the Charter rather than altering the policy directly?
As the policies can be altered or disregarded silently. Ethical standards in the Charter guarantee that public values direct public funds irrespective of whoever is in charge.
📄 Request Official Ballot Petition Form
*Maryland law requires original signatures on approved forms to qualify for the ballot.