It is estimated that the Royal County of Berkshire Pension Fund has over 97 million pounds invested indirectly in fossil fuels. If fossil fuel companies extract and burn just 20% of the reserves they hold, this will cause catastrophic climate change (extreme weather, food shortages and conflict). The urgency of stopping climate change requires that we progressively stop burning fossil fuels now. It is irresponsible and immoral for public bodies and pension funds to invest in fossil fuel extraction companies and instead they should, where possible, direct investment into 'green energy' infrastructure.

We're all part of institutions that ought to be looking out for the public good, from city and state governments to religious institutions to other kinds of charities and non-profits. Most of these institutions invest money in stocks and bonds, and have a responsibility to divest from an industry that’s destroying our future, and reinvest in solutions to climate change. Even as extreme weather events like Hurricane Sandy, floods, droughts and fires threaten to overwhelm local budgets, federal inaction to solve this crisis is all but stalled. We have the solutions, but we won’t see any political progress on the issue until we can weaken the power of the fossil fuel industry. The bottom line is this: divestment is the only moral choice for institutions that care about the planet and its residents. Solving the climate crisis is the only practical choice for governments that care about their solvency. We're asking for these institutions to: 1. Immediately freeze any new investments in fossil fuels. 2. Divest from direct ownership and any commingled funds that include fossil fuel public equities and corporate bonds within 5 years.

The bottom line is this: divestment is the only moral choice for institutions that care about the planet and its residents. Solving the climate crisis is the only practical choice for governments that care about their solvency.

Watch this brilliant one and half minute film explaining the petition: https://www.youtube.com/watch?v=Xa8CBI-dltE Further background information: 195 nations have agreed (at COP21 in Paris, December 2015) that to increase global temperatures beyond 2 degrees celsius would be CATASTROPHIC. This means dramaticly cutting our our carbon emissions, and keeping most of the known fossil fuels in the ground - Watch this for the IMPERATIVENESS of the situation: "Do the Math" at http://math.350.org/ bear, and this "Al Gore, Why I am optimistic about Climate Change" at https://www.ted.com/talks/al_gore_the_case_for_optimism_on_climate_change for an injection of impetus! Quite apart from the moral imperative to look after the planet that is our home (and that of the children of all species - not just our own!) Fossil fuel investments are losing value, and, according to many analysts, are on the verge of haemoraging. The governor of the Bank Of England has suggested divesting from fossil fuels as a wise financial move, and the Rockefeller foundation - founded upon fossil fuels, recently announced that they are divesting. "The leading argument by financial analysts is that, with emerging regulation to curb global temperature increases and growing competition from low-carbon energy sources, there is a real risk of “stranded assets” and “unburnable carbon”. “Stranded assets“, as coined by the Carbon Tracker Initiative, refers to assets that lose their value or turn into liabilities before the end of their economic life cycle. Such an outcome is expected of much of the world’s fossil fuel reserves, a large percentage of which is said to be unburnable (over 80% of coal, 50% of gas and 30% of oil) if we are to stay within the 2°C globally agreed threshold." From: http://www.blog.clientearth.org/why-pension-fund-trustees-must-consider-climate-risk/ ______ To grasp the seriousness of the climate crisis, you just need to do a little maths: Fossil fuel corporations have 5 times more oil, coal and gas in known reserves than the most conservative climate scientists think is safe to burn. Therefore we have to keep at least 80% of their fossil fuels underground to keep the earth in anything resembling livable shape. Despite this fact, fossil fuel companies continue to explore for more fossil fuels because, with our current economic system, the amount of reserves they have determines their share value. This exploration is potentially devastating for the environments where it occurs - imagine the DeepWater Horizon disaster in the hostile and treacherous seas of the Arctic - a scenario the US government gives a 75% chance of occuring. or the total devastation of Canada's Tar sand fields in Lancashire... By selling off their shares in fossil fuel companies, large institutions, like Cornwall Council, can use their financial clout to prevent such exploration from occurring, and help to keep the "oil in the soil, and the coal in the hole" If you want more detail: at current levels of Carbon dioxide emission, we have less than 15 years before crossing a dangerous threshold (2 degree celsius rise in global temperature) that almost every government in the world has agreed would be unsafe. We humans have already raised the temperature .8°C with the carbon dioxide already emitted, and that has caused far more damage than most scientists expected. A third of summer sea ice in the Arctic is gone, the oceans are 30 percent more acidic, and since warm air holds more water vapor than cold, the climate dice are loaded for both devastating floods and drought. Scientists estimate that humans can pour roughly 565 more gigatons of carbon dioxide into the atmosphere and still have some reasonable hope of staying below two degrees. Computer models calculate that even if we stopped increasing CO2 levels now, the temperature would still rise another 0.8 degrees above the 0.8 we’ve already warmed, which means that we’re already 3/4s of the way to the 2 degree limit. For much greater detail - see the film "Do the Math" at http://math.350.org/

act.350.org/sign/stockholm_divestera/

UK Universities, including our own BU, support the fossil fuel industry by investing £5.2 billion worth of their endowments in fossil fuel companies or through research and partnerships with companies like BP and Shell. Is a university not the place for educated minds, full of students and academics who understand the greater problems we face in society? Climate Change is THE BIGGEST problem society is facing – causing social, economic and environmental damage, and yet we aren’t doing enough about it! Which is why we need YOU! Join us, along with the ‘Fossil Free’ campaign and thousands of people worldwide, who are standing up to climate change and demand the divestment in fossil fuels and the investment in clean, renewable energy. Investing in fossil fuel companies that contribute to Climate Change is a bad investment!! Tell BU it's time for change.

The fossil fuel industry is an unsustainable, destructive, industry which is adding to our current climate change issues and supporting the world's reliance on non-renewable resources. We need to brake our reliance on old school unreliable fossil fuels. Christchurch Polytechnic Institute of Technology (CPIT) has the opportunity to be a frontrunner in sustainability and make investments that are positive, sustainable and future focused, rather than stay invested with fossil fuel companies.

Climate change is occurring at unprecedented rates, thanks in large part to the massive amounts of carbon dioxide being released into the atmosphere by the fossil fuel industry. 2014 was the hottest year in recorded history. And yet, in 2009, 114 countries had already signed the Copenhagen accord, in which they agreed that the world must work together to limit global warming to a safe level of not more than 2°C above pre-industrial temperatures. The Carbon Tracker initiative has shown that we can only afford to emit 565 more gigatonnes of CO2 if we want to remain under that threshold. We would emit 2795 gigatonnes of CO2 if we burned all the reserves already discovered, though, and the industry still invests millions in finding new reserves. Every institution that divests from fossil fuels helps to erode the industry's social license to operate. We urge the University of Auckland and associated Foundations to demonstrate that they do not wish to align themselves with an industry which is not only unethical but also economically insecure in the long-term. HSBC, one of the world's largest banks, has published a report indicating that major oil and gas companies could lose up to 60% of their market value if the existing international protocols on emissions reduction are enforced. Furthermore, leading global investment research firm MSCI has stated that fossil fuel divestment even “has the potential to reduce overall portfolio risk because of Energy Sector volatility”. The University of Auckland’s Sustainability Policy already demonstrates the institutions commitment to “the efficient management of energy[...] and minimisation of waste and emissions". It is time for the University to ensure this commitment extends to the industries it is supporting through its investments. Once again, we, the undersigned, urge the University of Auckland and its associated Foundations to look to the future by creating an ethical investment policy in which the University commits to divestment of all holdings, direct and indirect, from the fossil fuel industry within five years and to the exclusion of this industry from all of its future investment portfolios.

UK students have decided to take on the fossil fuel industry by getting our universities to go Fossil Free. People & Planet is joining forces with the 350.org campaign that has been sweeping across North American campuses. We believe that our educational institutions should serve the public good and live up to their promises to tackle climate change. No UK university in their right mind would accept funding from or invest their funds in tobacco companies these days - it’s inconsistent with their research on cancer. The same holds true for fossil fuel companies causing climate change and yet most universities still do not recognise this. That’s about to change! From Canada’s dirty tar sands to Arctic drilling and hydraulic fracturing (or fracking) for shale gas - the fossil fuel industry is scraping the bottom of the barrel and causing huge environmental and human devastation in the process. Withdrawing our institutions’ financial and moral backing for this climate-wrecking industry is crucial to tackling climate change.

The University of Nottingham’s (UoN) investment policy states that investment in companies which demonstrate ‘’explicit environmental damage’’ will not take place [1]. Yet, the fossil fuel companies Royal Dutch Shell, BP, BHP Billiton, Total and Centrica make up 11.08% of UoN’s portfolio and the total market value of the University’s investment in fossil fuels is £3,952,351 as of 31 July 2014. Investing in fossil fuel companies is not achieving the university’s aim “to act in an environmentally responsible way.’’ [2] BP as an example have shut down its solar business [3] and invested only 2% of profits into alternative energy between 2005 and 2015 [4]. It has not made new targets for alternative energy investments. Shockingly, BP were responsible for the 11 deaths and 4.9 million barrels of oil leaked in the Gulf of Mexico’s ecosystem. [5] Fossil Fuel exploration is needless. There is more proven oil and gas reserves than can be safely burnt without exceeding a global average temperature rise of 2 degrees, the widely regarded dangerous threshold. Burning fossil fuels contributes directly to climate change [6], leading to water scarcity [7, UoN research] as well as increasing the frequency and intensity of extreme weather events. Arctic Ice thickness has also decreased 40 percent since the 1960s, endangering arctic wildlife. By divesting in fossil fuels, the university will help prevent the numerous effects of climate change, increase its reputation as a leading ‘Green University’ and make us as students feel proud that our education doesn’t come at an environmental cost. UoN did well in the People and Planets comprehensive sustainable university league table and ranked 42nd. A move to more ethical investments would improve the universities ranking. The University of Glasgow received recognition [8] for their pledge of divestment from fossil fuels. A similar pledge will, set a positive example for the hundreds of divestment campaigns across the world cementing UoN as a leading global university. [1] https://www.nottingham.ac.uk/governance/documents/investment-policy.pdf [2] http://www.nottingham.ac.uk/about/documents/environmentalstrategy200910.pdf [3] http://www.bp.com/en/global/alternative-energy/our-businesses/solar-power.html [4] http://www.bp.com/content/dam/bp/pdf/sustainability/group-reports/BP_Sustainability_Review_2013.pdf [5] www.bbc.co.uk/news/science-environment-13123036 [6] https://www.ipcc.ch/pdf/assessment-report/ar4/syr/ar4_syr_spm.pdf [7] http://nottingham.ac.uk/globalfoodsecurity/strands/climatechangeandenvironmentalimpact/index.aspx [8] http://www.theguardian.com/environment/2014/oct/08/glasgow-becomes-first-university-in-europe-to-divest-from-fossil-fuels

The world has committed to keeping global warming below 2 degrees. To achieve this, over 80% of the proven fossil fuel reserves will have to stay in the ground (1) - we simply cannot afford to continue to invest in this industry. However, the arguments against fossil fuel investments are not just environmental. Economically, it is clearly unsustainable to rely on non-renewable resources. The price of oil is already volatile and is a significant source of financial risk (2) whereas, in contrast, low-carbon investments are becoming increasingly profitable (3). Divestment is a proven, powerful tool for people to collaborate and directly effect large scale change. It was, for example, a key strategy in the ending of South African apartheid and the stigmatisation of the tobacco industry, and will be a key player in the global transition to sustainable energy sources. The University of Bath has fossil fuel holdings totalling half a million pounds including over £100,000 in Shell alone (4). Our call is for the university to divest these holdings and publicly commit to never investing in them again. The activities of these companies are completely incompatible with the university’s own mission (5) and is at odds with much of the work on campus, from the research at the CSCT (6) and the IPR (7) to the discussions at the I-SEE (8). The campaign here at Bath is part of the wider Fossil Free movement – an accumulation of grassroots campaigns at a diverse range of respected institutions around the world, from Le Louvre museum in Paris to the University of Cambridge here in the UK. A quarter of universities in the UK have already committed to divesting, and Bath should be proud to join their ranks. Many of these forward-thinking universities had far more invested (9), so what we are demanding is not out of reach. The wider statement that the University of Bath will make when it divests will be significant and will extend far beyond the removal of the raw finances. In divesting from fossil fuels, the University will be: - Showing solidarity with communities already bearing the brunt of the effects of climate change, most of whom have contributed little to the problem; - Helping to reclaim our democracy from the power of fossil fuel lobbying groups (10); - Contributing to the stigmatisation of the fossil fuel industry: “the most far-reaching threat to fossil fuel companies” (11); - Influencing public discourse on climate change: leading the way for other UK universities and policy makers, too. It is time for the University of Bath to realise how incompatible a safe climate future is with these fossil fuel relationships, and to take meaningful action to go fossil free. This petition for a Fossil Free Bath complements Bath SU policy (12) voted through by 60% of students in early 2016. References (1) http://math.350.org/ (2) https://www.theguardian.com/environment/2015/mar/03/bank-of-england-warns-of-financial-risk-from-fossil-fuel-investments (3) https://www.theguardian.com/sustainable-business/2016/feb/13/renewable-energy-investment-fossil-fuel-divestment-investor-summit-climate-change (4) FOI (5) http://www.bath.ac.uk/about/values/ethics/code-of-ethics.html (6) http://www.bath.ac.uk/csct/research/energy-water.html (7) http://www.bath.ac.uk/ipr/policy-briefs/reports/climate-change.html (8) http://www.bath.ac.uk/i-see/ (9) https://www.theguardian.com/environment/2014/oct/08/glasgow-becomes-first-university-in-europe-to-divest-from-fossil-fuels (10) http://priceofoil.org/fossil-fuel-industry-influence-in-the-u-s/ (11) http://www.smithschool.ox.ac.uk/research-programmes/stranded-assets/SAP-divestment-report-final.pdf (12) https://www.bathstudent.com/pageassets/policy-governance/2015-16-4-Fossil-Free-Bath.pdf

There is strong evidence (1) that the impact on climate change of burning even the known reserves of fossil fuels will create an unsustainable environment for the generations to come, and untold suffering to countless living beings. This fact will impact negatively on the value of investments in the industries concerned with fossil fuel extraction. Using just the fossil fuel reserves listed on the world’s stock markets would be enough to take us beyond 2°C of global warming (2). This means that more than 80 per cent of the world's known coal reserves, 30 per cent of known oil and 50 per cent of gas reserves need to stay in the ground and drilling in the Arctic is out of the question if we're to stay below two degrees. Recent drops in the oil price add to the uncertainty surrounding fossil fuels and the financial viability of some extractions presenting opportunities to lessen our dependency on fossil fuels (3). In defiance of mainstream research evidence and international policy (4), fossil fuel companies continue to extract and burn as much carbon as possible to maximise their profits. Despite the very high probability of planetary disaster they show no intention of switching away from their core business model. Our local council has a responsibility to divest from an industry that’s destroying the very future for ourselves and for our children that personal investment in a pension seeks to enhance. Instead it should reinvest in solutions to climate change. We won’t see any political progress on climate change until we can weaken the power of the fossil fuel industry. Divestment for fossil fuel investments would also minimise the council's exposure to the financial risk of the 'carbon bubble', whereby shareholders risk being left with stranded assets (worthless fuel stocks that regulation will prevent from being burned). It is a paradox that pension funds providing income for the future should at the same time be investing in the fossil fuel industry which if left to its own devices will exploit more of the fossil fuel reserves than we can safely use! Institutions around the world including local government, universities and churches are pulling out of fossil fuel investments and moving towards a clean energy future (5) It's time to divest from fossil fuels and reinvest in clean energy now for inescapable moral and economic reasons. Bristol City Council have recently agreed to make a commitment to no direct investments in the fossil fuel industry and globally over 30 cities and municipalities have already committed to divestment. At present Bristol City Council’s funds are not directly linked to the fossil fuel industry. However, the Avon Pension Fund does have significant fossil fuel investments and so Bristol City Council would need to work with adjoining councils within the Avon Pension Fund to freeze and withdraw those investments. Shareholders (including pension funds) have started to challenge Exxon, Shell and BP to show how their business model is compatible with a 2 degree temperature rise (6). Some argue that engaging with fossil fuel companies is a more effective tactic than divestment. But Jonathon Porritt, one of the UK’s most esteemed environmentalists who spent years working on sustainability projects with BP and Shell, earlier this year said engagement was now futile because “hydrocarbon supremacists” at the companies had successfully ousted reformers wanting to diversify into green energy. Divestment, therefore, seems to be an unavoidable step to halting the damage and suffering which will ensue unless timely action is taken. 1 http://350.org/about/science/ 2 http://math.350.org/ 3 http://www.newscientist.com/article/mg22530043.100-over-a-barrel-falling-oil-prices-and-the-environment.html http://www.newscientist.com/article/mg22029415.700-an-oil-crash-is-on-its-way-and-we-should-be-ready.html#.VNI0c9kgGc0 4 http://www.ipcc.ch/ 5 http://zerocarbonbritain.org/index.php/zcb-latest-report 6 http://www.theguardian.com/environment/2015/jan/21/bp-challenged-confront-climate-change-risk-by-shareholders