Why Brent Council should divest from fossil fuels - Meeting May 8th

Meeting to discuss

What we can do about climate change

And how divestment (selling fossil fuel investments) can help

DATE AND TIME Tue 8 May 2018 19:30 – 21:30 Petition: https://tinyurl.com/DivestBrent Facebook: www.facebook.com/DivestBrent

LOCATION Meeting room Watling Gardens Estate 97-135 Shoot-Up Hill London NW2 3UB

Do you want to do something about climate change? Come to this meeting, hosted by Divest Brent and Brent Friends of the Earth, and find out what you can do. We will hear from an experienced campaigner (supplemented by video clips) about the role that divestment (disposing of fossil fuel investments) has to play generally and in particular, locally, look at ways to encourage Brent Council’s wish to divest their Pension Fund which has nearly £40 million invested in fossil fuel companies. We will look at divestment success stories and why it is so effective. We will also look at other ways to transition to clean, renewable energy – and most importantly what you can do to contribute to this transition.

Doors open at 7 pm - come then for an opportunity, before the formal evening starts at 7.30 pm, to talk to people in Brent who are already working to combat climate change - and there will be another chance for informal discussion when the formal evening finishes at 9 pm.

Please note that in order to attend, although the event is free, you must first register for a ticket online at https://tinyurl.com/KeepInGround or by writing to Simon Erskine, 61 Mortimer Road, London, NW10 5QR. The location is very close to Kilburn underground station but not that easy to find from the map – when you register online you will find a link to directions – or ask Simon Erskine as above.

Greens for a Fossil Fuels Free Brent Pension Fund

Brent Green Party support this petition to ask Brent Council to divest its pension fund from fossil fuel companies that contribute to global warming and catastrophic climate change.

Sign the petition HERE


Brent Council should divest its pension fund from fossil fuel companies to protect the people of Brent. So we ask Brent Council to make a public divestment statement committing the Brent Pension Fund to:

1. Immediately freeze any new investment in the top 200 publicly-traded fossil fuel companies with largest known carbon reserves (oil, coal and gas) [0]
2. Divest from direct ownership and any commingled funds that include fossil fuel public equities and corporate bonds in the top 200 list and shift these funds to lower risk, ethical investments before the May 2022 Council elections
3. Advocate to other pension funds, including the London Pension Fund Authority and Local Government Pension Scheme members to do the same
4. To do the above in a timely manner - by setting up a working group to report back on a strategy to bring about divestment within three months from the submission of this petition

Why is this important?

We believe divestment from fossil fuels to be not only ethically and environmentally correct, but also financially prudent. 

Climate change is the greatest challenge humanity has encountered. The 20 hottest years on record have all occurred since 1981 and 2016 was the hottest ever [1]. Higher average temperatures are directly linked to extreme weather events such as heat waves, droughts, floods and storms. 

Scientists have unanimously concluded that these changes are a consequence of human activity, arising from the burning of fossil fuels [2]. Moreover, this activity has resulted in unprecedented levels of air pollution, now regarded as a major world killer [3].

In a speech at Lloyd’s of London in September 2015, Mark Carney, Governor of the Bank of England said that by the time ‘climate change becomes a defining issue for financial stability, it may already be too late’. Carney warned investors that policies to address climate change ‘would render the vast majority of reserves ‘stranded’ – oil, gas and coal that will be literally unburnable’ [4].

In order to continue developing fossil fuel reserves – particularly in the difficult areas where the remaining reserves are located (including the Arctic, the mouth of the Amazon and tar sands in sensitive areas) the developing companies need investment – divestment is a way of cutting off the funds needed to carry out these damaging activities. It also sends a powerful signal to the companies and others that it is time to move away from fossil fuels towards renewable energy.

References:
[0] http://tinyurl.com/lmskfgk
[1] http://tinyurl.com/y9tkm4sn
[2] http://tinyurl.com/3e3zv
[3] http://tinyurl.com/pqgdd5q
[4] http://tinyurl.com/ycspl5sg

Brent Greens set the local agenda

Brent Green Party had a hand in three local stories this week helping set the agenda ahead of the local elections to be held in May 2018: