100 signatures reached
To: Birmingham City Council
Birmingham City Council, Divest From Fossil Fuels
Birmingham City Council to freeze all new investments in fossil fuels and commit to divest all holdings of fossil fuels in the next five years. Birmingham City Council needs to reinvest in community energy in the form of renewable co-operatives and community land trusts.
Why is this important?
Our local authority has a duty to look out for the public good. Fossil fuels are in direct conflict with the public good: investing in them poses a risk both to investors and to the planet. Birmingham City Council should take a moral, political and economic stand against them by taking our money away from fossil fuel companies and putting it into investments that are less at risk from climate change legislation and more compatible with our values.
Divestment from fossil fuels would make a powerful statement that the fossil fuel industry is morally and economically unviable, and that the people of Birmingham wish to support an alternative, sustainable energy future that will leave the planet in a shape that allows us, our children and grandchildren to live safely on it.
Financial research has called into question the valuations of fossil fuel companies due to their reliance on reserves which may become unburnable if carbon legislation comes into effect.