Tuesday, 6 October 2015

Kent County Council still invested in dirty fossil fuel industry

Kent residents will be shocked to hear that UK local councils are investing a massive £14 billion of workers’ pensions in companies causing dangerous climate change. That’s £281 for every UK resident, and £3,000 per public sector pension-holder. It would also be enough to build over 200,000 new homes, or produce enough renewable energy to power Scotland [1].

Our own Kent County Council is thought to have over £324 million directly or indirectly invested in the fossil fuel industry, almost 8% of its pension fund [2].

Our councils have a responsibility to act on climate change and help protect the futures of their workers and local residents. By committing to divest from fossil fuels, they could take a stand for climate action and re-invest the funds in positive solutions. They would join over 400 institutions and 2,000 individuals with an asset base of $2.6 trillion who are already divesting across the world [3].

Isn’t it time our KCC councillors insisted on their pension fund managers divesting from companies which are harmful to our environment and health and required them to invest instead in renewables and other sectors which will ensure better and healthier lives for our children and grandchildren?

Sign the petition to stop Kent County Council investing in fossil fuels *


[1] http://gofossilfree.org/uk/revealed-uk-councils-have-14-billion-invested-in-fossil-fuels/

[2] gofossilfree.org/uk/pensions/?akid=7590.2496630.7gebT2&rd=1&t=2 – click on Kent on map to see figures

[3] http://gofossilfree.org/uk/revealed-uk-councils-have-14-billion-invested-in-fossil-fuels/