Gloucestershire County Council Pension Fund, remove £100 MILLION invested in FOSSIL FUELS

Gloucestershire County Council Pension Fund, remove £100 MILLION invested in FOSSIL FUELS

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C Dennett started this petition

GOAL: £100 MILLION TO £NONE

We need Gloucestershire County Pension Fund to remove the £100 million (or any reduced sum) it currently has invested in fossil fuels and all carbon-intense industries, invest in genuinely sustainable and green funds, and commit to achieve this by 2025.

PROBLEM

All Gloucestershire councils have declared a climate emergency, yet they refuse to move the £100 million currently invested in fossil fuel companies. They believe keeping our money in fossil fuels is the smartest thing they can do to secure a future for pension fund members. We think this is an unsound strategy, morally and financially. 

Sir David Attenborough says; “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”, and David is right!

SOLUTION

The £100 million currently invested in fossil fuels can be rapidly diverted to both established and emerging green sector funds that support renewables, energy efficiency, storage, green technologies, as well as other sustainable investments such as agriculture, green transport, water infrastructure and assets that benefit the natural environment.

Investment leaders BlackRock say divesting from fossil fuels does not harm, and may even boost financial performance, making pension divestment morally and economically beneficial.

If enough people put enough pressure on Gloucestershire Pension Fund to invest more responsibly, they will feel increasingly uncomfortable with their commitment to continued fossil fuel funding. They will move the money.

ACTION

Whether you are a Gloucestershire Pension Fund member, a council tax payer, a campaigner, a Councillor or a concerned citizen, you can take action.

Sign and share this petition

Write to Cllr. Lynden Stowe, Gloucestershire Pension Fund Committee Chair

Email: lynden.stowe@gloucestershire.gov.uk

Post: Arbour House, Broadway Rd, Mickleton, Chipping Camden, GL55 6PT

Contact the Gloucestershire Pension helpline (members only) and tell them you don’t want your pension linked to fossil fuels: 

Web: www.gloucestershire.gov.uk/council-and-democracy/pensions/gloucestershire-local-government-pension-scheme-lgps-fund  
Administration Queries: pensions@gloucestershire.gov.uk 

Finance & Investment Queries: peninv@gloucestershire.gov.uk 

Tel: (01452) 328888
Join South West Action on Pensions / Gloucestershire: 

https://dtaction.co.uk/swap/gloucestershire/

FURTHER INFORMATION ABOUT THIS CAMPAIGN

Gloucestershire Pension Fund is managed by Brunel Pension Partnership who also manage the funds for 8 other local authorities and the Environment Agency, forming a sort of pension fund buyers’ club.  

Similar petitions to this are available for each of the other 8 local authority area Pension Funds, which are: 

Avon (Bristol, Bath & North East Somerset), Buckinghamshire, Cornwall, Devon, Dorset, Oxford, Somerset, Wiltshire

Campaigners have been pressing Gloucestershire Pension Fund to act with more urgency and align the pension fund with their declared climate and ecological emergency for a few years. We need to turn the pressure up!

South West Action on Pensions is a campaign super-group, a collective of campaign groups from across the 9 local authority areas Brunel manage funds for, plus the Environment Agency.

SWAP have been pressing Brunel Pension Partnership to change their perspective on fossil fuel engagement and review their Climate Change Policy.

SWAP has 3 core objectives for Pension Funds in their areas and Brunel:

  1. 100% divestment in fossil fuel companies, equities, bonds and associated financial products by 2025
  2. Divest from all carbon-intensive industries and invest in carbon-neutral companies and projects by 2025
  3. Brunel Pension Partnership to adopt and publish a target to limit global temperature rise to 1.5°C, rather than “well below 2°C” as currently stated in your Climate Change Policy. 

In February 2022, Brunel published a target to limit global temperature rise to 1.5°C, proving we can achieve change when we campaign effectively!

Thank you for signing and sharing this petition, and acting with the required urgency to end fossil fuel investments.

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