"Public budgets are moral documents. By updating its investment policy, Dublin is sending a clear message that taxpayer dollars should not fund companies complicit in genocide, mass surveillance or mass incarceration."
DUBLIN — The San Francisco Bay Area office of the Council on American-Islamic Relations (CAIR-SFBA), the nation’s largest Muslim civil rights and advocacy organization, praised Dublin’s Sept. 16 vote updating its Statement of Investment Policy to bar city investments in companies involved in war, mass surveillance and mass incarceration.
The revised policy prohibits investing in companies that develop or manufacture commodities that facilitate violence or war, operate in border or mass-surveillance industries or are involved in detention or incarceration. These new restrictions build on existing exclusions for fossil fuel, tobacco and firearm-related companies.
Dublin Vice Mayor Kashef Qaadri, who serves on the Finance and Investment Committee with Councilmember Michael McCorriston, said in a statement to The Independent that the updates followed a year-long review with city staff, financial advisors and community members.
Qaadri explained that the Council decided in late 2024 to revisit the policy, which was outdated and no longer aligned with Dublin’s mission, vision and values.
“Councilmember McCorriston and I worked closely with the Finance Department, our investment manager, Chandler Asset Management (, Inc.), and city staff to develop a revised policy,” Qaadri said. “This review included examining ESG (Environmental, Social and Governance), SRI (Socially Responsible Investing) and BDS (Boycott, Divestment and Sanctions) considerations. The updated policy clarifies language around ATF (Bureau of Alcohol, Tobacco, Firearms and Explosives) investments and adds restrictions related to military-industrial, prison-industrial and mass-surveillance companies. Ultimately, we chose to incorporate an ESG screening process using S&P IQ.”
Qaadri also thanked residents for their participation during city council meetings.
“I truly appreciated the community engagement throughout this process,” he said. “We put a great deal of time, energy and thought into ensuring the policy complies with state law while reflecting the values and priorities of our residents as best as possible.”
CAIR-SFBA Policy Coordinator Musa Tariq said in a press statement, “Public budgets are moral documents. By updating its investment policy, Dublin is sending a clear message that taxpayer dollars should not fund companies complicit in genocide, mass surveillance or mass incarceration.”
Executive Director Zahra Billoo added, “We applaud Dublin for aligning city investments with community safety and human dignity. Our values are clear: protect civil rights, reject profiteering from oppression and keep public funds out of industries that endanger our communities — at home and abroad.”
While the Council did not adopt a formal Boycott, Divestment and Sanctions policy, advocates said the revisions mark an important step toward ethical investment.
CAIR-SFBA’s mission is to increase public understanding of Islam, protect civil liberties, promote justice and empower American Muslims.
