Hounslow Friends of the Earth asks all candidates to divest Council pension fund from fossil fuels
Hounslow Borough Friends of the Earth have been campaigning for Hounslow's Pension Fund to stop investing local workers’ money in planet-wrecking fossil fuels.Investing local pensions in fossil fuels is fueling climate change and air pollution, contradicting local, national and international commitments to tackle climate change. It is also putting members’ pensions in jeopardy as fossil fuel investments now pose a dangerous long-term financial risk to investors.Instead, to move toward a zero-carbon future we need to phase out the use of fossil fuels. This means we need to limit the extraction and production of fossil fuels as part of a managed and just transition. There are already far more known fossil fuel reserves than can possibly be burned to stay within globally agreed targets for limiting global heating yet the fossil fuel companies that our pension funds invest in continue to expand.Institutions, such as local government pension funds, can take practical action by moving their direct and indirect investments out of the fossil fuel industry.We think this election is the perfect time for our council to take their impressive climate leadership plans to the next level by committing to stop investing in the biggest polluters in the world, and plan how this money can be invested in the local economy instead.More than 300 candidates have signed the UK Divest pledge in all 3 nations. Support has come from across the political spectrum with candidates representing the Labour, Conservative, Liberal Democrat, Green, Plaid Cymru and Scottish National Parties.How many candidates from the borough of Hounslow will join these 300 candidates?Hounslow Borough Friends of the Earth is calling all candidates to publicly back the following pledge:“If elected, I will do all I can to ensure the council pension fund ends investment in fossil fuels and invests in a just transition to a zero-carbon economy.”Candidates can register their pledges here:https://airtable.com/shrnQTDQITfOpNMpc Hounslow borough residents who want to support the campaign and call on candidates to pledge to divest the pension fund from fossil fuels, can find all the resources they need here: divest.org.uk/elections-2022.
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