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 .
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