Protect Wales' Pension Schemes

What is Divestment?

 

Divestment (or disinvestment) is the opposite of an investment – it simply means taking money out of stocks, bonds, or investment funds. The global movement for fossil fuel divestment is asking institutions to move their money out of oil, coal and gas companies for both moral and financial reasons

Image CC Cliff Hellis
 

Why Divestment?

Fossil fuels - coal, oil and gas - are the main driver of climate change.  If we want a healthy, safe climate we need to leave remaining fossil fuels in the ground. Unaccountable fossil fuel companies like BP, Shell and BHP Billiton are doing the opposite.  Mining and exploration is unlocking more carbon from the earth thereby driving climate change whilst also polluting sensitive environments and ecosystems and destroying the livelihoods of local people around the world. Furthermore, as economies move to sustainable energy sources, the value of investments in fossil fuel extraction and exploitation will diminish. It is wise to divest now, before the carbon bubble bursts.

 

What is Friends of the Earth Cymru doing?

Friends of the Earth Cymru is part of the Fossil Free UK movement and in Wales we are calling on Local Authorities and public bodies to move their investments and pension holdings out of dirty energy as part of a global campaign for fossil fuel divestment.

 

In Wales, research suggests that Local Authorities alone have around £750 million invested directly or indirectly in fossil fuels.

Many places around the world are leading the way and worldwide it is estimated that funds totalling $2.6 trillion have gone fossil free.

Friends of the Earth local groups and others are calling for responsible investment and a divestment from fossil fuels.

Our work on Divestment is part of wider work to ensure that Wales is fossil fuel free.

It's time to get Welsh pensions and public money out of fossil fuels!

 

What can we do?

If you are interested in working on Divestment in Wales, contact Bleddyn Lake on bleddyn.lake@foe.co.uk. Bleddyn will put you in touch with your nearest Friends of the Earth group working on Divestment or help you to start your own local group to work on the issue.

 

- You can sign a petition asking your Local Authority to divest from fossil fuels here.

 

- You can also write to your local councillor to ask them to take action to clean up their local government pension scheme. Click here to download some guidance.

 

 
 

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