Fossil Free UK - Local Government

Public money shouldn’t be funding an industry that undermines our future. Municipalities around the world have already committed to divest - it’s about time that yours did too!

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Campaigns (55)

  • Fossil Free Merseyside Local Government Divestment Campaign
    Climate change is the biggest threat to the future of our global society. Research carried out by Bill McKibben and 350.org has identified that fossil fuel companies declared reserves far exceed the amount that can be safely burned if we are to limit Co² in the atmosphere to a level that will keep projected temperature rises to within 2°C. 2°C was the “safe” level of temperature rises agreed at the Copenhagen Climate talks and that figure was based on the overwhelming scientific consensus among climate scientists. To keep temperature rises below 2°C we need to limit the amount of Co² we emit and that means that 80% of the declared reserves of the largest 200 fossil fuel companies cannot be burned. Temperature rises above 2°C will have devastating consequences for people, societies and eco-systems around the world. There are moral reasons to divest. If business as usual means investing in an industry that will have devastating effects on future generations, this is an issue of inter-generational justice. There are financial reasons. The value of the companies is based on the fossil fuel reserves which are held and their potential future profits, and given that 80% of known reserves must stay in the ground the value of these shares is vastly overestimated. The value of the shares are expected to fall dramatically in future and if we don't act quickly our investments will make a loss as 'stranded assets' when the Carbon Bubble bursts. The Merseyside Pension fund currently has £198,897,000 directly invested in fossil fuel companies and another estimated £156,298,000 indirectly invested in commingled funds that include fossil fuel companies. This means in total the pension fund has £355,195,000 invested in fossil fuels. For more information about divestment please visit http://gofossilfree.org/uk/
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    Created by Edward Gommon
  • Divest the South Yorkshire Pension Fund
    The South Yorkshire Pensions Authority (SYPA) which manages the Local Government Pension Scheme has about £200m invested in companies with fossil fuel connections such as £83m in Shell, £51m in BP and £24m in bhpBilliton (coal) (as at March 2014). It also holds investments in companies which fail to balance their focus on profit with the social and environmental responsibilities expected in the modern day. We believe it is morally indefensible to invest in companies that destroy our climate and so leave to our children a world where life as we know it is unsustainable. And that it is financially irresponsible to invest in such a high risk sector where the experts agree that the assets are currently wildly overstated and where share prices are certain to plummet.
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    Created by Ellen Gibson
  • Divest Lambeth from Fossil Fuels
    In order to avoid the catastrophic consequences of climate change, global warming must not exceed 2°C which means 80% of known fossil fuel reserves must not be used [2]. Evidence indicates that fossil fuel companies intend to burn enough reserves to push global warming far above 2°C, and they even insist on searching for further reserves, often in the world’s most ecologically sensitive areas [3]. The Lambeth Pension Fund has tens of millions of pounds invested in oil and gas [4]. These investments carry a high degree of risk on financial and social grounds. It makes financial sense to divest for as the cost of extraction increases and international treaties restrict the use of fossil fuels these investments will continue to become riskier over time. In support of this movement we ask you to sign our petition, contributing to a better future for citizens of Lambeth and beyond as we move away from reliance on the fossil fuel industry. Who are we? Divest Lambeth is a campaign launched by Lambeth residents to get Lambeth Council to cut its ties with the fossil fuel industry by selling off stocks and shares in coal, oil and gas companies made through the Lambeth Council Pension Fund. We're a local campaign with connections to a growing global movement that has seen local governments, pension funds and public institutions worth over $50 billion (£30 billion) around the world pledge to divest from fossil fuels. References [1] http://www.rollingstone.com/politics/news/the-case-for-fossil-fuel-divestment-20130222?page=2 [2] http://www.carbontracker.org/report/wasted-capital-and-stranded-assets/ [3] http://www.shell.com/global/future-energy/arctic/exploration-production.html [4] http://www.lambeth.gov.uk/sites/default/files/ec-Lambeth-Pension-Fund-Annual-Report-and-Appendix-2013-2014.pdf
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    Created by Tineka Beard
  • Divest Brent Council from Fossil Fuels
    We believe divestment from fossil fuels to be not only ethically and environmentally correct, but also financially prudent. Climate change is the greatest challenge humanity has encountered. The 20 hottest years on record have all occurred since 1981 and 2016 was the hottest ever [1]. Higher average temperatures are directly linked to extreme weather events such as heat waves, droughts, floods and storms. Scientists have unanimously concluded that these changes are a consequence of human activity, arising from the burning of fossil fuels [2]. Moreover, this activity has resulted in unprecedented levels of air pollution, now regarded as a major world killer [3]. In a speech at Lloyd’s of London in September 2015, Mark Carney, Governor of the Bank of England said that by the time ‘climate change becomes a defining issue for financial stability, it may already be too late’. Carney warned investors that policies to address climate change ‘would render the vast majority of reserves ‘stranded’ – oil, gas and coal that will be literally unburnable’ [4]. In order to continue developing fossil fuel reserves – particularly in the difficult areas where the remaining reserves are located (including the Arctic, the mouth of the Amazon and tar sands in sensitive areas) the developing companies need investment – divestment is a way of cutting off the funds needed to carry out these damaging activities. It also sends a powerful signal to the companies and others that it is time to move away from fossil fuels towards renewable energy. References: [0] http://tinyurl.com/lmskfgk [1] http://tinyurl.com/y9tkm4sn [2] http://tinyurl.com/3e3zv [3] http://tinyurl.com/pqgdd5q [4] http://tinyurl.com/ycspl5sg
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    Created by Simon Erskine Picture
  • Divest South Lakeland From Fossil Fuels
    We feel it is critical to start this process of divestment NOW. 1. As the local authority, it has rigorously set, carbon reduction targets and therefore cannot be 'feeding the fire' by maintaining investments in fossil fuels, as this completely undermines SLDC's commitment to reducing its carbon emissions. 2. If it is wrong to continue to wreck the Earth’s climate, then it follows that it is wrong to profit from that wreckage. There are increasing indications that the profitability of the fossil fuel industry will decrease significantly in coming years. When action is taken to limit global warming and a large degree of carbon reserves are left in the ground, shares in fossil fuel companies will drop significantly in value. As such, investments in fossil fuels risk exposure to this 'carbon bubble'. There is already evidence that fossil fuel-free portfolios are capable of out-performing those including fossil fuel investments.The fossil fuel industry is volatile and the historical bankable returns MUST not and CANNOT be relied upon in the 21st century. See http://www.globalpolicyjournal.com/blog/20/04/2015/11-reasons-divest-fossil-fuel-industry for a comprehensive overview for reasons to divest now.
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    Created by Claire Wickham
  • Divest York from Fossil Fuels
    If it is wrong to wreck the climate, then it is wrong to profit from that wreckage. There is overwhelming scientific evidence of the link between climate change and carbon emissions. More than 450 major organisations worldwide have taken positive action and become part of the solution by pledging to stop investing in the fossil fuel industry. This has resulted in $2.6 Trillion being removed from Fossil Fuel companies. Organisations signed up so far include many universities, the British Medical Association, the Joseph Rowntree Foundation, The Quakers and Oxford City Council.
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    Created by Ellen Gibson
  • Divest West Sussex County Council pension fund from fossil fuel companies.
    We are in a climate emergency. The recent NASA report states that February 2016 broke global temperatures by a shocking amount and scientists believe that we may be closer to breaching the 2C warming limit, which was set at the recent Paris summit, than previously thought. Therefore it is imperative that fossil fuels stay in the ground.
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    Created by Emma Cameron
  • Ealing fossil fuel divestment campaign
    The London Borough of Ealing has money invested in the fossil fuel industry. Fossil fuel contributes to carbon dioxide (CO2) in the atmosphere. Scientists say we must reduce this amount of carbon dioxide in order for the planet to be able to continue to support life and civilisation as we know it. The planet is already one degree warmer and glaciers are disappearing, threatening the main source of clean water for millions of people. Sea levels are rising which means some islands are disappearing. Habitats are changing and wildlife and the livelihoods of many communities are at risk. Extreme weather is becoming more common. It's deeply worrying but we can take action. Stopping fossil fuel investment is an important part of tackling global warming and we would like London Borough of Ealing's ties with the fossil fuel industry to be cut.
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    Created by KIrstie McLachlan
  • DIVEST TYNE & WEAR COUNCIL FROM FOSSIL FUELS
    If it is wrong to wreck the planet, it is wrong to profit from wrecking the planet. Public bodies have an obligation to act in the interests of the public good. Our local Council has a track record to be proud of in environmental concerns, and we ask them to continue to lead the way by divesting from fossil fuels. It is accepted that to avoid an irreversible change in weather systems the temperature of the planet must not rise by more than 2 degrees C. To avoid this rise, we must not burn anymore than 565 Billion tonnes of CO2. Fossil fuel companies already have reserves of CO2 to more than five times this amount. These companies are not listening to patently obvious scientific warnings. Instead, they are literally scouring the globe for the last remaining fuels to burn and bucks to make. Currently, the Tyne & Wear Pension Fund invests £264, 961, 000 into the Fossil Fuel industry. By committing to divest from the industry and invest in renewables in five years, the council would be taking the moral lead in this matter of social justice - following councils in Bristol, Oxford and Kirklees. Continued engagement with and investment in the fossil fuel industry jeopardises the very future that pension funds are supposed to guarantee and secure. On the other hand, investment in renewable energy ensures a sustainable, viable and secure future for our children. But this is no longer an issue that our children will need to sort out. It is an encroaching reality and we must act. So we call on our council to lead the way and divest now to create a sustainable future.
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    Created by Robert Noyes Picture
  • North Yorkshire Fossil Fuel Divestment
    The North Yorkshire Pension Fund Committee could, like a growing number of other Local Authority-administered Pension Funds, adopt a strategy of steady 'divestment and re-investment'. This means moving away from investing in an increasingly unstable and more costly fossil fuel dependency towards a cleaner, cheaper and ultimately more profitable renewable future, which will enable local communities across North Yorkshire and beyond to benefit. To help achieve this, we are asking the Pension Fund Committee to: 1. Freeze any new investment in the top 200 publicly-traded fossil fuel companies[1] at the earliest opportunity [1] The Carbon Underground 200 Project, at http://fossilfreeindexes.com/research/the-carbon-underground 2. Commit to a policy of divesting or withdrawing from direct ownership and any commingled funds that include fossil fuel public equities and corporate bonds over the next 5 years; and of re-investing in a new carbon-free portfolio of more local, ethical and renewable energy technologies and infrastructure developments 3. Include these action points above in the Pension Fund Committee’s Investment Strategy Statement, with effect from the earliest possible date. (* Adapted from the petition model in the Gofossilfree campaign’s guidance – see Local Government Guide at https://gofossilfree.org/uk/pensions/#action )
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    Created by Mike Barron Picture