It’s time for the West Midlands to stop investing in the climate crisis.
Divest WMPF is a campaign group which wants to stop the West Midlands local government pension fund investing in oil, coal and gas. We are asking all candidates standing in the local elections to sign our Pledge. We plan to publicise all the responses we receive on our website, in social media and via local press.
“I support the divestment of our local government pension fund from fossil fuels, and reinvestment locally to support transition to a low carbon future”
The West Midlands Pension Fund currently invests £490 million in fossil fuels compared to £393 million three years ago. The pledge is asking you to support the call for your council to back divestment – removing the pension fund’s money from oil, coal and gas and reinvesting it to support transition to a low carbon future. Examples of local reinvestment opportunities are housing, energy efficiency, low carbon technology and infrastructure such as decentralised energy solutions.
In the West Midlands in July 2017 Birmingham City Council unanimously passed a motion backing this call. We hope 2018 will bring further backing from across the West Midlands and if elected your support as a Councillor would play an important part in making this happen.
Why should West Midlands Pension Fund divest?
It is scientifically proven that burning fossil fuels is causing climate change. If we are to keep to the internationally agreed target of 2 degrees of warming most known reserves of coal, oil and gas will need to remain underground. The companies that are still looking for new reserves of fossil fuels now represent a risky long term investment. If we succeed in averting catastrophic climate change then they will be left with stranded assets in the form of vast amounts of fossil fuels that can never be burned.
In 2017 the call for divestment received increasing support nationally and internationally and over 100 MPs across all political parties have backed the call for their pension fund to divest from fossil fuels. More recently New York City has committed to divest its pension fund from fossil fuels.
Tweet or post on Facebook (sharing buttons are below):
I support the divestment of our local government pension fund from fossil fuels, and reinvestment locally to support transition to a low carbon future #divestwmpf
Send the pledge to us at firstname.lastname@example.org