By Staff

BOSTON (CBS) — Boston Mayor Michelle Wu signed an ordinance on Monday to change how the city invests.

The ordinance prohibits public funds from being invested in stocks, securities, or companies that get more than 15% of its revenue from fossil fuels, tobacco products, or carceral facilities, like jails or prisons by the end of 2025.

READ MORE: COVID Booster Demand 'Skyrocketing' In Massachusetts

The goal is to grow “a low-carbon, resource efficient, and socially inclusive economy,” said a statement from Wu’s office.

READ MORE: 85-Year-Old Man Killed In Yarmouth Hit-And-Run Crash

The ordinance was unanimously passed in the City Council last week.

MORE NEWS: Suit Alleges Company Sold Bogus Hand Sanitizer To Massachusetts Schools Staff