COUNTY COUNCIL RECOGNISES THREAT TO LOCAL PENSIONS POSED BY COAL & FRACKING INVESTMENTS
Tuesday 11 July, County Hall, Lewes: The chair of the East Sussex Pension Committee, Councillor Richard Stogdon, has said that he ‘entirely agrees’ that ‘any encouragement to the fracking industry’ – such as investments in ‘fracking companies’ – ‘should be avoided’, as these are ‘not in the best interest of the Council’s pensioners … [or] residents of East Sussex.’ Cllr Stogdon also stated that the Pension Committee would be ‘looking at strategies for reducing – as far as possible – any investment in coal where we see that’s in the best interests of our pensioners.’ Continue reading County Council recognises threat to local pensions posed by coal & fracking investments
CAMPAIGNERS WELCOME UNISON DECISION TO BACK FOSSIL FUEL DIVESTMENT
Hastings and Eastbourne branch played crucial role in decision to ditch investments that are putting workers’ pensions ‘at risk’
East Sussex residents who have been campaigning to persuade the County Council to ditch the £150m worth of local people’s pension monies that it currently has invested in fossil fuels (oil, coal and gas) , have welcomed the passing of a motion at UNISON’s national conference, committing the union to “seek divestment of Local Government Pension Schemes from fossil fuels” . Continue reading Campaigners welcome UNISON decision to back fossil fuel divestment
CAMPAIGNERS MAKE CASE FOR DITCHING OIL, COAL & GAS INVESTMENTS AT EAST SUSSEX PENSION FUND EVENT
Relying on “engagement” with fossil fuel companies a massive gamble, event told
Tuesday 13 June, County Hall, Lewes: Divest East Sussex made a 20-minute presentation, making the case for the East Sussex Pension Fund to ditch its investments in the oil, coal and gas industries, at a training day for the East Sussex Pension Committee at County Hall in Lewes today (13 June).
Making the presentation on behalf of Divest East Sussex, Rachel Crossley – a former World Bank employee with 25 years experience in international development, sustainable finance and asset management  – outlined the substantial financial risks posed to the Pension Fund by its continued investment in fossil fuels (oil, coal and gas). She also explained why the Fund’s current policy of “engagement” (ie. lobbying fossil fuel companies to change their practices) cannot address these risks. Getting rid of such investments (divestment) was the “responsible and prudent” thing to do, she argued, noting that hundreds of other institutions across the globe – including two local pension funds here in the UK – have already taken such action. Continue reading Campaigners make case for ditching fossil fuel investments
COUNTY COUNCIL TO CONSIDER IMPACT OF NEW CLIMATE LAWS ON PENSION FUND East Sussex Pension Committee acknowledges duty to consider long-term risks, as 1,662 residents petition Council to stop investing local people’s pensions in oil, coal and gas industries.
23 May 2017, County Hall, Lewes: The East Sussex Pension Committee will consider whether or not it will be able to successfully anticipate any sudden sudden loss in the value of its investments in fossil fuels (oil, coal and gas) as a result of future climate change legislation, the chair of the Committee, Cllr Richard Stogdon declared this morning . The declaration followed the latest hand-in of signatures of the petition to Divest the East Sussex Pension Fund from fossil fuels, which has now been signed by over 1,660 people from across the County .Continue reading County Council to consider impact of new climate laws on Pension Fund
EAST SUSSEX CAMPAIGNERS JOIN GLOBAL WEEK OF ACTIONS AGAINST FOSSIL FUEL COMPANIES Actions in Brighton, Hastings & Forest Row part of 260 actions in 45 countries
5 – 13 May 2017, Brighton, Hastings & Forest Row: Campaigners from across East Sussex took part in a global week of action against the fossil fuel industries (oil, coal and gas) last week, with events in Hastings, Brighton and Forest Row.
Fossil fuel (oil, coal & gas) companies have been driving the climate crisis and delaying action on climate change for decades. Join us in Hastings Old Town on Saturday 13 May for a carnivalesque, New Orleans marching jazz band funeral parade for these companies, to demand that East Sussex County Council stops investing local people’s pensions in these damaging and financially risky fuels. After all, it’s the fossil fuel companies funeral or ours!
BRIGHTON COUNCIL CALLS FOR EAST SUSSEX PENSION FUND TO DITCH FOSSIL FUELS
Thursday 6 April 2017, Brighton Town Hall: Brighton and Hove City Councillors have passed a motion tonight, calling on East Sussex County Council to divest the East Sussex Pension Fund from fossil fuels (oil, coal and gas) . The Fund – which is administered by the County Council and holds the pensions for a wide range of organisations from across East Sussex – is estimated to have over £150m invested in the fossil fuels .Continue reading Brighton Council calls for East Sussex Pension Fund to ditch fossil fuels
Next Thursday (6 April), Brighton and Hove City Council will be voting on a fossil fuels divestment motion tabled by two Labour and Cooperative Group Councillors (Lloyd Russell-Moyle and Kevin Allen).
If it passes, Brighton and Hove City Council would become the third institutional member of the Pension Fund to call on East Sussex County Council to divest the East Sussex Pension Fund from fossil fuels (oil, coal and gas).
LEWES TOWN COUNCIL CALLS FOR EAST SUSSEX PENSION FUND TO DITCH ITS INVESTMENTS IN OIL, COAL AND GAS Motion passed in wake of Pension Committee decision that climate change “poses material risks” to local people’s pensions
Councillors on Lewes Town Council joined forces last week to pass a cross-party motion calling on the East Sussex Pension Committee to divest the East Sussex Pension Fund of its investments in fossil fuels (oil, coal and gas) . The motion, which notes that such investments are “financially risky” and “damaging the balance of the climate”, was supported by all of the Councillors present – including members of the Green Party and the Liberal Democracts – with one abstention owing to a potential conflict of interest. Hastings Borough Council passed a similar unanimous cross-party motion last year . Continue reading Lewes Town Council calls for East Sussex Pension Fund to ditch its investments in oil, coal and gas
COUNTY COUNCIL ACCEPTS CLIMATE CHANGE “POSES MATERIAL RISKS” TO EAST SUSSEX PENSION FUND East Sussex Pension Committee amends draft Investment Strategy as local pension member delivers 1200 petition signatures calling on County Council to ditch “dirty” investments in oil, coal and gas
Monday 27 February, County Hall, Lewes: The East Sussex Pension Committee agreed to amend the text of its new draft Investment Strategy Statement this morning, to recognise that “climate change poses material risks” to the East Sussex Pension Fund . The Fund – which is administered by the County Council and holds the pensions for a wide range of organisations from across East Sussex – is estimated to have over £150m invested in the fossil fuel industries (oil, coal and gas) .
This morning’s decision was made on the same day that local Pension Fund member Karl Horton delivered 1,200 signatures to the Council calling on the East Sussex Pension Fund to sell its investments in fossil fuels (coal, oil and gas). The petition – which can be found online at http://tinyurl.com/divesteastsuss – has been signed by people from across East Sussex, including residents of Battle, Bexhill, Brighton, Crowborough, Eastbourne, Etchingham, Forest Row, Hastings, Heathfield, Hove, Lewes, Polegate, Seaford, St Leonards, and Uckfield . Continue reading County Council accepts climate change “poses material risks” to East Sussex Pension Fund