Hobart City Council Divestment. The petition is closed. 1500 signatures total on paper, plus online!

As rate paying residents of Hobart we are extremely concerned about the effects of catastrophic climate change on our planet in general and Tasmania specifically.  We are calling upon Hobart City Council to live up to its promise to lead the community in responding to the threat of climate change and join the growing number of cities and municipalities worldwide in divesting from the fossil fuel industry.
 
Hobart City Council currently has $26 million, over 70% of its total investment portfolio, with the big banks which finance the fossil fuel industry.
 
There is a global concensus that the rise in temperatureS must be limited to 2°C to avoid catastrophic climate change, which would have severe effects both globally and locally, with Tasmania predicted to experience loss of economically important ecosystems and species due to warming oceans, loss of coastal areas to rising sea levels and increase in the frequency and severity of catastrophic bushfires.
 
To ensure warming does not exceed this 2°C limit, it has been estimated that 80% of remaining fossil fuel reserves must remain in the ground. Since national governments are not acting fast enough to ensure this, a growing number of local governments are ruling out using the money entrusted to them by their residents to advance the destruction of our planet. Cities that have divested so far have included Melbourne, Newcastle, Byron Shire Council, Freemantle, ACT, San Francisco, Seattle, Oslo and many others.