Divestment

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 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

Trade union briefing on divestment.

Read more about local authority divestment campaigns

350.org and Platform are looking to get in touch with trade union members interested in divestment campaigning. Get involved

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.

You can visit sites such as Fossil Free and 350.org for more general information on the fossil fuel divestment movement.