50 signatures reached
To: Dumfries & Galloway Council
Divest Dumfries & Galloway Council's Pension Fund from Fossil Fuels
Divest Dumfries & Galloway Council's pension fund from fossil fuels entirely by the end of 2022.
Why is this important?
Dumfries & Galloway Council has aspirations to be Europe's first carbon neutral region, yet its pension fund is the most heavily invested in fossil fuels in the whole of Scotland. Currently, the fund has more than £28 million invested directly in fossil fuels and almost another £50 million in projected indirect investment.
These investment decisions make a mockery of the Council's own sustainability and climate change goals. Instead of fueling the climate crisis, it's time for Dumfries & Galloway Council to take a stand and divest from fossil fuels.
The more than £78 million invested in fossil fuels could be directed to renewable energy in the Council's own area, promoting the potential for clean, green technologies in the region and boosting employment and infrastructure.
With such a large fossil fuel investment (9.4% of their total fund), we would like to see D&G Council implement a 5-year plan to move to total fossil fuel divestment.
Fossil fuels are the technology of the 20th century, not the 21st. Stocks in fossil fuels are volatile and the industry is preparing itself for a significant future loss of revenue caused by increasing extraction costs, falling quantities of available fuels and increasing public outrage at the lack of action on climate change. Our people and our planet can no longer afford to delay climate action.