A GREEN councillor has started a petition to develop a Pension Investment Strategy that invests in the production and development of renewable energy.

Cllr Sarah Lunnon (Stroud Central) wants to use the funds Gloucestershire County Council (GCC) currently has invested in companies producing fossil fuels to be put into renewables.

“The development and use of renewable energy sources is required to protect the future of all who live and work in Gloucestershire from climate change,” cllr Lunnon said.

“The current strategy of the Pension Fund administered by GCC Pension Committee to invest many many millions in large fossil fuel companies is compromising the future of those of us who live in Gloucestershire and those who contribute to or are receiving GCC pensions.”

But a GCC spokesman said the petition was unlikely to effect change because of its legal duty to maximise investment returns.

“GCC administers the Gloucestershire Local Government Pension fund, which invests money on behalf of thousands of staff and pensioners from over 100 organisations, to pay for their retirement.

"The fund has a legally duty to maximise investment returns, otherwise taxpayers risk having to make up the difference.

"Approximately three percent is invested in companies linked to fossil fuels.

"The fund only makes investment decisions on the basis of advice from specialist professional investment managers.”

To sign the petition go to http://bit.ly/1T9qYj5