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
TWENTY-FIVE METER DIVESTMENT PETITION TO BE HANDED-IN AS COUNTY COUNCIL DISCUSSES CLIMATE RISK Over 1180 people from across East Sussex call on County Council to ditch “dirty” investments in oil, coal and gas
9.30am, Monday 27 February, County Hall, Lewes: East Sussex residents will be handing-in a 25m-long petition at County Hall in Lewes next Monday (27 Feb), calling on East Sussex County Council to divest the East Sussex Pension Fund of investments in fossil fuels (coal, oil and gas). The petition has been signed by over 1180 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 25 meter petition to be handed-in as County Council discusses climate risk
CAMPAIGNERS CALL ON COUNTY COUNCIL TO DIVEST LOCAL PENSIONS FROM FOSSIL FUELS AS VALUE OF FUNDS DIVESTED GLOBALLY PASSES $5 TRILLION Pension funds that fail to consider climate risk could face legal challenges – leading UK barristers
13 December 2016: Campaigners from around East Sussex have hailed a new report , showing that the global movement to get institutions to ditch investments in the oil, coal and gas industries has doubled in size since 2015. Over 685 institutions in 76 countries, managing assets worth more than $5 trillion, have now made some form of divestment commitment. Continue reading Campaigners hail passing of $5 trillion divestment threshold
LOCAL PENSION FUND MEMBER LAUNCHES PETITION CALLING FOR EAST SUSSEX PENSION FUND TO DITCH ITS FOSSIL FUEL INVESTMENTS Pension Fund must stop pretending it can “influence” the likes of Exxon – petition founder