Renewable energy, social housing, infrastructure – there’s no shortage of ethical inspiration for local authorities divesting from fossil fuels
The news that millions of public sector staff stand to lose hundreds of pounds as local government pension funds with investments in coal companies crash in value shows there is a serious financial issue in funding fossil fuels. But there’s also an ethical one – scientists say 80% of our fossil fuels must stay in the ground to prevent the worst effects of climate change.
Not all hope for a greener planet is yet lost. In the future, local government staff could see their pensions go into the community, instead of polluting coal and gas, as chancellor George Osborne has announced plans to pool local government pension funds to pay for local infrastructure. For the moment, however, it’s up to individual pension funds to make ethical decisions about their investments; fortunately,UK local authorities don’t have to look far for green investment inspiration.
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Source: Guardian Environment