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?
It is estimated that the Royal County of Berkshire Pension Fund has over 97 million pounds invested indirectly in fossil fuels.
If fossil fuel companies extract and burn just 20% of the reserves they hold, this will cause catastrophic climate change (extreme weather, food shortages and conflict). The urgency of stopping climate change requires that we progressively stop burning fossil fuels now.
It is irresponsible and immoral for public bodies and pension funds to invest in fossil fuel extraction companies and instead they should, where possible, direct investment into 'green energy' infrastructure.
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