North Yorkshire Fossil Fuel Divestment

The North Yorkshire Pension Fund Committee could, like a growing number of other Local Authority-administered Pension Funds, adopt a strategy of steady 'divestment and
re-investment'.
This means moving away from investing in an increasingly unstable and more costly fossil fuel dependency towards a cleaner, cheaper and ultimately more profitable renewable future, which will enable local communities across North Yorkshire and beyond to benefit.

To help achieve this, we are asking the Pension Fund Committee to:

1. Freeze any new investment in the top 200 publicly-traded fossil fuel companies[1] at the earliest opportunity
[1] The Carbon Underground 200 Project, at http://fossilfreeindexes.com/research/the-carbon-underground

2. Commit to a policy of divesting or withdrawing from direct ownership and any commingled funds that include fossil fuel public equities and corporate bonds over the next 5 years; and of re-investing in a new carbon-free portfolio of more local, ethical and renewable energy technologies and infrastructure developments

3. Include these action points above in the Pension Fund Committee’s Investment Strategy Statement, with effect from the earliest possible date.

(* Adapted from the petition model in the Gofossilfree campaign’s guidance –
see Local Government Guide at https://gofossilfree.org/uk/pensions/#action )