Local governments in the UK invest over £14 billion of public sector pension funds into fossil fuel corporations. That means workers’ pensions are accelerating dangerous climate change. They are overly risky long term investments and they funnel capital out of local lives, jobs and economies into corporate profits of the likes of BP and Shell.
By divesting from fossil fuels, these pensions can create jobs and boost local economies, as well as for take control of wealth back from unaccountable investment management firms.
This briefing by Platform with Trade Unions for Energy Democracy, 1 Million Climate Jobs and Campaign Against Climate Change (Trade Union Group) has been produced to help trade union members raise the issue in their local Trade Union Councils, local Union branches, and to make sure Trade Unions play a role in the growing divestment and reinvestment movement. It contains
Key information about the issue with links to resources & some TU policies
Draft motion to use with your Union and Trades Council
Local Info Sheet that you can adapt to your local area using the information from the website
As of 2nd November 2016, Sheffield City has become the "largest of nine UK councils to pass divestment policy". Sheffield City Council passed a motion to fully commit to divesting from fossil fuels, with commitments from both the council and its universities. The commitment will also apply to the South Yorkshire Pension fund, which the Sheffield City Council contributes to.