STROUD District Council chair, Norman Kay is urging town and parish councils to move their pension funds away from investments associated with fossil fuels.
In 2015 data was published that showed UK local government pension schemes invest more than £14 billion in the fossil fuel industry.
In October the council became the first local authority in the county to call for a freeze to investment in fossil fuels, despite some heavy opposition.
As a consequence, it was concluded that investments in the fossil fuel industry represent a substantial financial risk.
Cllr Kay (Green, Nailsworth) said: “Make no mistake about it; it is an issue that affects our very lives. Unless we act to curtail fossil fuel use, we shall be dead.”
His plea comes at an interesting time, with the recent proposal for Gloucestershire’s pension scheme to be grouped with other local governments in the South West and the Environment Agency within the Brunel Pension Partnership whose key investment principles are “responsible investment and stewardship.”
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