10 signatures reached
To: Northamptonshire County Council
Divest Northamptonshire From Fossil Fuels
• Immediately freeze any new investments in fossil fuels
• Divest from direct ownership and any commingled funds that include fossil fuel public equities and corporate bonds within 5 years
Why is this important?
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/