500 signatures reached
To: Louise Goldsmith - Leader, West Sussex County Council
Divest from fossil fuels
Divest pension funds from dangerous fossil fuel investments.
Why is this important?
West Sussex County Council can help address climate change by divesting £100m of its pension funds out of fossil fuels (1). Fracking, shale gas, arctic sea oil exploration – all of these, plus the systematic drilling for coal, oil and gas on land and in the sea, are financed in part through pension funds. Dangerous climate change is the risk if we don’t all act.
Divesting these funds now is morally and ethically correct. What’s more ethical and sustainable investment funds outperformed non-ethical investment funds in 2012/13 (2).
Climate change is leading to extremes in our weather. Globally, the State of the Climate report shows a “toppling of several symbolic milestones” in temperature, sea levels and carbon dioxide (3).
For Sussex, we are to expect increases in extreme heat – a real danger for young and old members of our community - and flooding. Professor Virginia Murray from Public Health England said, "Data has shown real risk of increased deaths when temperature goes above 26C"(4). Already in our local area, flooding events are increasing and the risk of damage to people and property growing (5).
“Divestment represents a tangible action that individuals and organisations can take to combat climate change. I’m scared for my children’s future and take every opportunity I can to pressure action on climate change for them and all of us” - M, Worthing
1 Freedom of Information request dated 02/03/16
2 BlueGreenTomorrow.com: http://blueandgreentomorrow.com/2013/08/15/financial-returns- from-ethical-investment-funds- better-than- mainstream-in- last-12- months/
5 Climate UK: http://climateuk.net/resource/climate-change- risks-south- east-england