500 signatures reached
To: Oxfordshire County Council
Tell Oxfordshire County Council to divest local government pension scheme from fossil fuels
David Attenborough stated in a 2020 interview with Make My Money Matter; “It is crazy that our banks and our pensions are investing in fossil fuels, when these are the very things that are jeopardising the future we are saving for.” We, the undersigned call on Oxfordshire County Council to make an immediate public commitment to divest the Local Government Pension Scheme (over a period of no more than three years) from any fossil fuel company that is actively exploring for new reserves of oil and gas, or is planning to develop any new fields that are not currently in production.
Why is this important?
The Oxfordshire local government pension scheme which, provides pensions for over 66,000 public sector workers in the county, has investments in fossil fuel companies including over £20m in Shell despite the county council having declared a Climate Emergency back in 2019. Scientists tell us that to avoid extreme disasters, the majority of known reserves need to stay in the ground. Yet these companies are investing in new fossil fuel exploration and development projects which jeopardize any chance that global heating will be limited to 1.5°C, threatening everyone's security and livelihood. Divestment sends a clear message to the fossil fuel sector and removes any social license to continue their dangerous business plans.