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  • Members of East Sussex Pension Fund Call for Divestment!
    Burning fossil fuels (oil, coal & gas) is the main driver of climate change. Massive reductions in carbon emissions will be necessary before 2030 if the world’s governments are to follow through on their stated commitment (‘the Paris agreement’) to hold global warming to ‘well below’ 2ºC. Failure to do so would be truly disastrous. In particular, the vast majority of proven reserves of fossil fuels will have to remain in the ground unburnt. Yet despite this, in 2019 the oil and gas industries were forecast to spend $4.9 trillion over the next decade on new oil and gas fields - none of which is compatible with limiting warming to 1.5°C. As of 31 December 2020, the East Sussex Pension Fund – the local government pension scheme for East Sussex, Brighton and Hove - had £76.4 million of local people's pensions invested in fossil fuels. These investments not only threaten the climate, but also pose a significant financial danger to the Fund. In 2015 the then-Governor of the Bank of England, Mark Carney, warned that investors in these fossil fuels faced ‘potentially huge’ losses from climate change action that could make vast reserves of oil, coal and gas ‘literally unburnable’. After coal demand peaked in 2014, UK public pension funds lost nearly a billion dollars as the value of their coal investments plummeted. Oil and gas are next. And the Council’s policy of ‘engaging’ with fossil fuel companies simply isn’t working. Indeed, despite many years of such ‘engagement’ not a single major oil company has yet re-aligned its business model with a 2ºC world, let alone a 1.5ºC one. And there are no precedents for a company changing its core business model following pressure from shareholders. By getting institutions like the East Sussex Pension Fund to publicly commit to divesting from fossil fuels, we can help to undermine the political power of the fossil fuel companies that continue to block effective action on climate change by the world’s governments. It’s time to divest from fossil fuels. Who supports divesting the East Sussex Pension Fund? - Maria Caulfield, Conservative MP for Lewes - Caroline Lucas, Green MP for Brighton Pavilion - Hastings Borough Council - Brighton & Hove City Council - Lewes District Council - Lewes Town Council - UNISON (the public service union) What else can I do? (a) The Council has claimed that 'There’s no evidence that most [East Sussex Pension Fund] members or other stakeholders consider divestment from fossil fuel companies a pressing issue ...' Help prove them wrong by sending a short message to the Chair of the East Sussex Pension Committee, the decision-making body for the Fund. You can do this using our template text (which you can adapt as you see fit) here: https://act.350.org/letter/eastsussex (b) Tell your friends, family and workmates about the campaign (c) If you use social media then follow us on Facebook [https://www.facebook.com/divesteastsussex] and / or Twitter [https://twitter.com/DivestEast] and share our posts. (c) If you live of work in Brighton or Hove then please also sign this petition to East Sussex County Council demanding that Brighton and Hove City Council (BHCC) be granted adequate representation on the Pension Committee that controls the Fund (it currently has no representation at all): https://tinyurl.com/bhccrepresentation
    22 of 100 Signatures
    Created by Rob Noyes
  • Stop investing Brighton and Hove's Pension Fund in fossil fuels
    Burning fossil fuels (oil, coal & gas) - which releases the greenhouse gas carbon dioxide into the atmosphere - is the main driver of climate change. Massive reductions in carbon emissions will be necessary before 2030 if the world’s governments are to follow through on their stated commitment (‘the Paris agreement’) to hold global warming to ‘well below’ 2ºC, 'pursuing efforts to limit the temperature increase to 1.5º C. Failure to do so would be truly disastrous. In particular, the vast majority of proven reserves of fossil fuels will have to remain in the ground unburnt. Yet despite this, in 2019 the oil and gas industries were forecast to spend $4.9 trillion over the next decade on new oil and gas fields - none of which is compatible with limiting warming to 1.5°C. As of 31 December 2020, the East Sussex Pension Fund – the local government pension scheme for East Sussex, Brighton and Hove - had £76.4 million of local people's pensions invested in fossil fuels. These investments not only threaten the climate, but also pose a significant financial danger to the Fund. In 2015 the then-Governor of the Bank of England, Mark Carney, warned that investors in these fossil fuels faced ‘potentially huge’ losses from climate change action that could make vast reserves of oil, coal and gas ‘literally unburnable’. After coal demand peaked in 2014, UK public pension funds lost nearly a billion dollars as the value of their coal investments plummeted. Oil and gas are next. And the East Sussex Pension Fund's policy of ‘engaging’ with fossil fuel companies simply isn’t working. Indeed, despite many years of such ‘engagement’ not a single major fossil fuel company has yet re-aligned its business model with a 2ºC world, let alone a 1.5ºC one. And there are no precedents for a company changing its core business model following pressure from shareholders. By getting institutions like the East Sussex Pension Fund to publicly commit to divesting from fossil fuels, we can help to undermine the political power of the fossil fuel companies that continue to block effective action on climate change by the world’s governments. It’s time to divest from fossil fuels. Who supports divesting the East Sussex Pension Fund? - Maria Caulfield, Conservative MP for Lewes - Caroline Lucas, Green MP for Brighton Pavilion - Hastings Borough Council - Brighton & Hove City Council - Lewes District Council - Lewes Town Council - UNISON (the public service union) What else can I do? (a) Tell your friends, family and workmates about the campaign and ask them to sign the petition; (b) If you use social media then follow the campaign on Facebook [https://www.facebook.com/divesteastsussex] and / or Twitter [https://twitter.com/DivestEast] and share our posts; (c) If you're a member of the Pension Fund then please sign this petition to ESCC, calling on it to divest the Pension Fund from fossil fuels: https://tinyurl.com/memberspetition. The Council has claimed that 'There’s no evidence that most [East Sussex Pension Fund] members or other stakeholders consider divestment from fossil fuel companies a pressing issue ...' Help prove them wrong! You can also send a short message to the Chair of the East Sussex Pension Committee, the decision-making body for the Fund, using this adaptable template: https://act.350.org/letter/eastsussex
    115 of 200 Signatures
    Created by Rob Noyes
  • Devon County Council - Divest from Fossil Fuels
    Pensions are about giving us a secure future. But our future security is fundamentally threatened by climate change. Our pension funds should not be invested in oil, gas and coal companies when we know we must leave 80% of all fossil fuels in the ground to avoid catastrophic climate change. Our local authorities have a duty to look after the public good. Fossil fuels are in direct conflict with the public good: investing in them poses a risk both to pension members and to the planet. So Devon County Council should take a moral, political and economic stand against them by taking our money away from fossil fuel companies and putting it into investments that are less at risk from climate change legislation. Divestment from fossil fuels would make a powerful statement that the fossil fuel industry is morally and economically unviable, and that the people of Devon wish to support an alternative, sustainable energy future that will leave the planet in a shape that allows us, our children and grandchildren to live safely on it. .......................................................................................................................................................... Template letter (please adapt and use your own words as much as possible, talking about why this issue is important to you): Dear Councillor In 2019, Devon County Council ranked 14th among UK local authorities for the amount of its pension fund invested in fossil fuels. The Devon Pension Fund had £157 million invested through passive portfolios, with the two main companies being Shell and BP. The core business models of Shell and BP are based on the extraction of fossil fuels with absolutely no prospect of change within the timescales required by the Paris Agreement. Both these companies plan to continue exploration for years to come and are opening new oil wells in UK waters. Brunel Partnership who manage the fund have made a commitment to net zero by 2050 and to reduce the fossil fuel investments of the Devon Pension Fund by a minimum of 7% a year. Such incremental change would have been possible had we begun thirty years ago, but the International Energy Agency (IEA) have concluded that exploitation and development of new oil and gas fields must stop this year and no new coal-fired power stations can be built if the world is to stay within safe limits of global heating. Cllr Bloxham has defended the position of the DCC Pensions and Investment Committee saying that “to achieve real emissions reductions it is vital we engage with the companies we are invested in, to hold them to take responsibility for their products”. Both Shell and BP and many of the others indirectly funded by the DCC Pension Fund have spent decades, and continue today, to spend millions of pounds a year funding lobbying groups to suppress the science, spread misinformation and confusion which has resulted in widespread climate denial and inaction. The best way for DCC to influence these companies is to join the growing number of local authorities and organisations, such as the Methodist Church and many Universities, who have removed their investments and placed them in alternative funds. I therefore demand that: 1) DCC fully divest its pension fund from all fossil fuel investments in the next 12 months 2) DCC informs all pension holders in the Local Government Pension Scheme of the current fossil fuel investments and produces a roadmap for divestment with clear milestones 3) DCC works with the relevant agencies to develop and fund a low carbon investment programme for Devon The safety and security of the people you represent depend on strong action on the climate crisis. Divest Now!
    740 of 800 Signatures
    Created by Maurice Spurway
  • UCT to divest from fossil fuels and invest in sustainable energy
    Almost every government in the world has agreed that any warming above a 2 °C rise would be unsafe, and many[1] believe that target should no more than 1.5 °C degrees. Humanity has raised the global temperature by 0.8 °C, and that has caused far more damage than most scientists expected. More than a third of summer sea ice in the Arctic is gone, the oceans are 30 per cent more acidic, and the climate dice are loaded for both increasing floods and droughts. This damage to a human-friendly climate threatens the most fundamental human right – the right to life – and the environment and economies that support human life. Scientists estimate that humanity can add roughly 565 more gigatonnes of carbon dioxide into the atmosphere and still have an 80% hope of keeping average global warming below two degrees.[2] Computer models calculate that even if we stopped increasing CO2 and other greenhouse gas levels now, the temperature would still rise another 0.8 °C above the 0.8 °C we have already warmed, which means that we’re already three-quarters of the way to the 2 °C target. The proven coal, oil, and gas reserves of fossil-fuel companies, corporate and state-owned, which they currently plan to extract, equal about 2,795 gigatonnes of CO2, or five times the amount we can release without passing 2 °C of warming. Given this mounting crisis, there have been numerous authoritative calls[3] for a global target of phasing out all use of fossil fuels, or achieving carbon neutrality (net zero emissions), by 2050. Africa is a continent particularly vulnerable to climate change and it would be short-sighted to contribute to our own destruction – ‘extremely dangerous’ climate change[4] – in the name of short-term economic development. The principle of intergenerational equity is written into the South African Constitution, but contributing further to climate change would inevitably compromise the lives and livelihoods of current and future generations. The fossil fuel industry threatens human health (through climate change, air and water pollution), threatens democracy (through funding, disclosed and undisclosed, of political parties and politicians)[5] and threatens science (by funding climate science denial campaigns and using non-disclosure agreements to block research into the health impacts of fossil fuel extraction). Every societal institution that is aware of the climate change threat has a profound responsibility to take every possible action to avert it, especially to those that hold some responsibility for contributing to it through past and present emissions. It makes no sense to preserve the short- and medium-term value of current investments while contributing to long-term economic destruction. Divestment is wise (avoiding risk of stranded assets), ethical, feasible (many other institutions are doing it), effective and urgent.[6] UCT's own chancellor, Graça Machel, told the UN in September 2014, “There is a huge mismatch between the magnitude of the challenge and the response we heard here today. The scale is much more than we have achieved.” UCT has already made strong commitments to sustainability.[7] Honouring them demands consistent, decisive action to stop dangerous climate change. UCT aims to be a centre of excellence in climate change research, and risks undermining its academic integrity if it continues to invest in companies and practices at odds with the conclusions of its researchers. [*] References can be viewed at gofossilfreesouthafrica.wordpress.com/about. NB: Please sign this petition only if you are a member of the UCT community – faculty, staff, students and alumni.
    1,053 of 2,000 Signatures
    Created by David Le Page
  • Divest Washington & Lee University from Fossil Fuels
    Climate change is accelerating. We are witnessing the increasing impacts of a warming planet more and more consistently; in this last year alone our country experienced record-breaking heat, droughts, and hurricanes, which impacted hundreds of thousands of people and cost our country hundreds of billions of dollars. Hurricane Sandy alone caused $50 billion in damages. Experts agree that global warming caused by humans burning fossil fuels will continue to accelerate and intensify these tragic climate disasters. The scientific consensus is clear and overwhelming; we cannot safely burn even half of global fossil-fuel reserves without dangerously warming the planet for several thousand years.
    11 of 100 Signatures
    Created by James McCullum
  • Divest CMU
    Carnegie Mellon University’s mission statement promises: “To serve our students by teaching them ... the value of a commitment to quality, ethical behavior, and respect for others”. Simply put, much of the way that fossil fuel and coal companies operate is not ethical. By investing in these companies, CMU is not living up to these promises made to its students. We want to help CMU keep that promise by petitioning the administration to divest. CMU claims that its vision is to promote and inspire innovation that will benefit society. But by aligning itself with fossil fuel companies, CMU is aligning itself against innovation. Fossil fuel companies lobby against renewable fuels and spread misinformation about climate change and the renewable energy industry. By investing in fossil fuel companies, CMU is condoning these actions, rather than vilifying them. By investing in fossil fuel companies, Carnegie Mellon is ignoring the fact that while climate change can be mitigated with technology, it is also a political, economical, and cultural issue. While innovation is important, even the most advanced technology will not save us if it is not backed with legislation, funding, and the acceptance of the population. Fossil fuels companies are doing their best to keep renewable energy unfunded, unpopular, and without legislative support. This has to stop. By choosing to stigmatize fossil fuel companies rather than support them, CMU can help make this happen. Carnegie Mellon will meet the changing needs of society by taking this stand with us and continuing to build on its traditions of leadership and innovation within an ethical frame.
    27 of 100 Signatures
    Created by Becca Epstein
  • To South Seattle College
    Climate change is accelerating. We are witnessing the increasing impacts of a warming planet more and more consistently; in this last year alone our country experienced record-breaking heat, droughts, and hurricanes, which impacted hundreds of thousands of people and cost our country hundreds of billions of dollars. Hurricane Sandy alone caused $50bn in damages. Experts agree that global warming caused by humans burning fossil fuels will continue to accelerate and intensify these tragic climate disasters. The scientific consensus is clear and overwhelming; we cannot safely burn even half of global fossil-fuel reserves without dangerously warming the planet for several thousand years. As public pressure to confront climate change builds, we call on South Seattle College to immediately freeze any new investment in fossil-fuel companies, and to divest within two years from direct ownership and from any commingled funds that include fossil-fuel public equities and corporate bonds. We believe such action on behalf of South Seattle College will not only be a sound decision for our institution's financial portfolio, but also for the wellbeing of its current and future graduating classes, who deserve the opportunity to graduate with a future not defined by climate chaos. Our community has spoken loud and clear as we've already seen other local entities in the University of Washington and the City of Seattle divest while hundreds of loyal citizens express their frustration at the Port of Seattle for allowing Shell to dock in our waters. It’s up to academia like South Seattle College to lead the way for it’s community and be an example of how educational institutions are bettering the planet and our future- not investing in its failure.
    13 of 100 Signatures
    Created by Nick Tyler
  • FULLY DIVEST LSE FROM FOSSIL FUELS
    Time and again it has been scientifically proven that climate change triggered by the increase of CO2 concentrations in the atmosphere is directly linked to human industrial activity that is powered by the burning of fossil fuels. To stabilise atmospheric CO2 concentrations and thereby minimise the hard to predict impacts of rising global temperatures, we need to take action right now. Therefore, we the students of LSE are asking the school to disclose its endowment fund investments. If the portfolio contains investments in fossil fuel focussed companies, we will work with the the school to shift its focus towards low carbon technology and clean energy companies. We must mitigate the anthropogenic effect by addressing where our institution is investing its money.
    1,053 of 2,000 Signatures
    Created by Collective of environmentally conscious LSE students
  • Go Fossil Free! NKU
    Climate change is accelerating. We are witnessing the increasing impacts of a warming planet more and more consistently; in this last year alone our country experienced record-breaking heat, droughts, and hurricanes, which impacted hundreds of thousands of people and cost our country hundreds of billions of dollars. Hurricane Sandy alone caused $50 billion in damages. Experts agree that global warming caused by humans burning fossil fuels will continue to accelerate and intensify these tragic climate disasters. The scientific consensus is clear and overwhelming; we cannot safely burn even half of global fossil-fuel reserves without dangerously warming the planet for several thousand years.
    117 of 200 Signatures
    Created by James Renton
  • Connecticut College: Go Fossil Free!
    Climate change is accelerating. We are witnessing the increasing impacts of a warming planet more and more consistently; in this last year alone our country experienced record-breaking heat, droughts, and hurricanes, which impacted hundreds of thousands of people and cost our country hundreds of billions of dollars. Hurricane Sandy alone caused $50bn in damages. Experts agree that global warming caused by humans burning fossil fuels will continue to accelerate and intensify these tragic climate disasters. The scientific consensus is clear and overwhelming; we cannot safely burn even half of global fossil-fuel reserves without dangerously warming the planet for several thousand years. As public pressure to confront climate change builds, we call on Connecticut College to immediately freeze any new investment in fossil-fuel companies, and to divest within five years from direct ownership and from any commingled funds that include fossil-fuel public equities and corporate bonds. We believe such action on behalf of Connecticut College will not only be a sound decision for our institution’s financial portfolio, but also for the wellbeing of its current and future graduating classes, who deserve the opportunity to graduate with a future not defined by climate chaos.
    27 of 100 Signatures
    Created by Kate McAlaine