The case for divestment from fossil fuels and investment in green and local economies (Aug 2019)

Extinction Rebellion Nottingham has produced a Briefing to explain why Nottinghamshire Pension Fund should get its money out of fossil fuels.

People are being asked to write to their local councillors to ask Notts Pension Fund to get its investments out of fossil fuel companies and into environmentally sustainable ventures, including local alternatives. Separate template letters have been prepared for Pension Fund members and for any local resident.

It should be noted that fossil fuel investments are financially risky because most known reserves will have to be left in the ground to reduce the risk of climate change. And it is the employers, including the City Council and District Councils as well as the County Council, which will have to make good any shortfall in the pension fund.

Extinction Rebellion Nottingham demands include:

• Divestment from all fossil fuel-related assets over the next 3 years;
• Shift investments into sustainable equities funds;
• Invest in renewable energy and environmental sustainability;
• Invest in local alternatives.