Harlow Council’s investment in fossil fuels questioned

Politics / Wed 15th Nov 2017 at 12:01pm

A Labour candidate for the local council elections next May has quizzed council on their investments in fossil fuels.

Eugenie Harvey said: “It is alarming to read in a report released this week by campaign groups (UK Councils Fuelling the Fire) that Essex County Council has £220 million worth of investments in fossil fuels through its Pension Fund.


“It is completely unacceptable for any Council’s pension fund to be invested in fossil fuels. Fossil fuel investments are directly contributing to climate change which will make the planet uninhabitable; they are inconsistent with the Paris Climate Agreement which the UK Government has signed up to; and for the thousands of people paying into these pension funds in good faith, they represent a serious financial risk.

“Money invested in fossil fuels should be divested and re-invested in renewables, housing and transport – programmes which will ensure a sustainable future, strengthen our communities and ensure safe, long term returns for those saving for their retirement.

“I call on Essex County Council to make a public commitment to divest its Pension Fund of fossil fuels within 5 years. Anything less should be unacceptable to anyone who cares about the future of the planet.”

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1 Comment for Harlow Council’s investment in fossil fuels questioned:

2017-11-15 15:29:58

Lefty or Greenie, they're all the same. Trouble is that they really don't think anything through, do they. When an alternative is found and produced at an economical rate, maybe, just maybe, the world, not just the UK would use the newer fuels. So, how does this lady stand with Maggie T ? The mines were closed to veer away from fossil fuels, and the mine-workers were all un-employed. So Mz Harvey, how goes it then for the petro industry, and the pensions of thousands of people ? Same school as Abbott. Trust labour at your peril.

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