2018-11-20 12:55:06 -0500
To: Islington Council
Islington Council: Divest from Fossil Fuels
We won! Islington has committed to divest.
1. Immediately freeze any new investments in fossil fuels
2. Divest from direct ownership and any commingled funds that include fossil fuel public equities and corporate bonds within 5 years
Why is this important?
Climate change is the most pressing problem facing humanity. We want to protect this planet so it remains for our children and grandchildren.
We can start by asking our local council to take its money out of fossil fuels - currently £59.5 million.
Local government has a duty to act for the public good. Fossil fuels are in direct conflict with this: investing in them threatens the planet and poses a risk to investors.
Financial research has called into question the valuations of fossil fuel companies as they rely on reserves which must remain unburned if we are to avoid catastrophic climate change.
Islington Council should take a prudent economic decision and a moral stand by moving our money away from risky fossil fuel investments.
Divestment from fossil fuels makes a powerful statement that the fossil fuel industry is morally and financially unviable, and that the people of Islington want a sustainable future.