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 (53)

  • Kensington & Chelsea Council Divest from Fossil Fuel Investments
    It is imperative to divest from fossil fuel investments for both ethical and financial reasons. To avoid catastrophic climate change and keep global temperatures below more than 2ºC above pre-industrial levels, 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 are unburnable.[1] Oxfam has already confirmed that the poor and struggling people that they work with are reporting ever-changing and unpredictable weather patterns, which contribute to deeper and longer lasting floods in South Asia; irregular rainfall in Mozambique, or hotter temperatures that are melting glaciers in Bolivia and Tajikistan.[2] Climate change may also wipe out $2.5 trillion, or 1.8 percent of the world's financial assets by the end of this century if the planet continues to warm at its current rate, according to a recent study in the peer-reviewed journal Nature Climate Change.[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 literary unburnable’. [4] Many have already divested. AXA in 2015 announced that it was selling $500 million of coal stocks.[4] We therefore believe that the Council should help prevent climate change and reduce its exposure to climate and carbon related risks by divesting of these assets. [1] https://www.carbonbrief.org/meeting-two-degree-climate-target-means-80-per-cent-of-worlds-coal-is-unburnable-study-says [2] http://www.oxfam.org.uk/what-we-do/issues-we-work-on/climate-change#8f355e95-4248-47d2-8973-920be53a9fde [3] https://insideclimatenews.org/news/04042016/study-warning-wall-street-financial-risks-stranded-assets-climate-change-trillion-dollars [4] http://www.carbontracker.org/wp-content/uploads/2015/11/CAR3817_Synthesis_Report_24.11.15_WEB2.pdf
    22 of 100 Signatures
    Created by Felix Grenfell Bozek
  • Divest Northamptonshire From Fossil Fuels
    In order to stop the global climate warming by 2 °C above pre-industrial levels and avert global catastrophe, 80% of all known fossil fuels must stay in the ground. [1] By removing investments in fossil fuel companies Northamptonshire County Council will be showing its commitment to creating a healthy, sustainable future for both the people of Northants and the planet as a whole. 97% of climate scientists agree that humans are the primary cause of recent climate change, largely due to the release of greenhouse gases from the combustion of oil, coal and gas for heat and power. Climate change is happening now - we’re already experiencing global temperature rise, warming oceans, shrinking ice sheets and more frequent and intense extreme weather events. [2] Whole ecosystems are threatened, and people's lives are at risk due to flooding, food and water insecurity, creating climate change refugees. [3] NORTHAMPTONSHIRE Northamptonshire Local Government Pension Scheme Fund Total-£1,659,847,000 Total Fossil Fuel Investment- £171,800,000 (10.35%) Direct Investments- £115,377,000 (6.95%) Projected Indirect Investments-£56,423,000.00 (3.39%) [4] [1] http://www.bbc.co.uk/news/science-environment-30709211 [2] http://climate.nasa.gov/evidence/ [3] http://www.unhcr.org/pages/49e4a5096.html [4] http://gofossilfree.org/uk/pensions/
    16 of 100 Signatures
    Created by Northants FoE Local group
  • End Croydon Council's support of fossil fuels
    Climate change is one of the greatest threats facing humanity. It is real and it is happening now. We know that one of the biggest contributors to climate change is humans burning fossil fuels. If we are to keep to the aims of the Paris agreement and keep global warming to less than 2°C above pre-industrial levels then we have to leave 80% of known fossil fuel reserves unburnt. Increasing the threat of climate change or trying to profit from increasing the threat is clearly not a responsible use of public funds. Responsible investors should therefore withdraw their support from every company that is involved in extracting, promoting or selling fossil fuels. Croydon Council's pension fund currently has around £40m invested in fossil fuel companies such as Chevron, ExxonMobil and Shell. Croydon Council should take a stand and divest our money from fossil fuel companies. Divestment from fossil fuels would make a powerful statement that the fossil fuel industry is morally and economically unviable, and that the people of Croydon wish to support a sustainable energy future.
    1 of 100 Signatures
    Created by Ellen Gibson
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