Campaigners welcome UNISON decision to back fossil fuel divestment

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) [2], 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” [3].
Continue reading Campaigners welcome UNISON decision to back fossil fuel divestment

Campaigners make case for ditching fossil fuel investments

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 [2] – 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