An attempt to remove County Council investment in fossil fuel companies is to be made at the Tuesday’s County Council meeting.
Cllr. David Williams the leader of the Green Group will move that over £42 million of County monies invested in fossil field industries such as BP and Shell should be removed and placed in other industries that do not produce climate changing gases.
There will be a demonstration of activists at the entrance to County Hall in support of the motion prior to the Council beginning. Dr. Al Chisholm will speak to the Council on behalf of campaigners using the public address slot asking councillor of all parties to support Cllr. Williams’s motion. Moves to disinvest pension fund monies and monetary reserves have been
gathering pace recently with academics at the University asking for a withdrawal of University investments. Other local authorities are also under pressure from similar campaign moves throughout the UK.
Cllr. Williams said:
“Disinvestment on such a large scale is the only way to make the energy companies think about their long term future and act now to change their investment packages away from a further a further generation of oil exploration and into infrastructure projects in renewable energy sources. Similar returns could be made in investments in other companies so pensions funds would be safe.”
Cllr Williams considers the motion will be opposed by those who deny that climate change is a problem but hopes that this is an ever declining small minority.