25 signatures reached
To: London Borough of Wandsworth Council
Fossil Fuel Free Wandsworth
We, the undersigned, are calling upon Wandsworth Council to:
- immediately freeze any new investments in fossil fuels made by the Wandsworth Borough Pension Fund or Wandsworth Council itself.
- divest its own financial holdings, and those of its pension fund, from any business which is involved in the exploration or production of fossil fuels by shifting its funds to ethically and environmentally friendly investments within 5 years
- pressure other pension funds, including members of the Local Authority Pension Fund Forum and Local Government Pension Scheme to do the same
Why is this important?
Climate change is the most pressing issue facing humanity. Wandsworth council currently has £69m invested in fossil fuel industries. This is counter-productive to it's 'Our Greener Borough' initiative which was set up to help reduce Wandsworth's environmental impact. Local government has a duty to act for the public good and fossil fuels are in direct conflict with this: investing in them threatens the planet and poses a risk to investors.
Ethically, environmentally and economically there is no justification for this and Wandworth Council should be divesting these funds and reinvesting them in a better, greener future if it truly cares for it's residents, London, the UK, and the planet.
Wandsworth Council need to move away from these risky fossil fuel investments and help provide a more sustainable future.