DIVEST DERBYSHIRE: PLEASE SIGN OUR PETITION1
I SUPPORT CALLS TO DERBYSHIRE COUNTY COUNCIL TO:
• Immediately freeze any new investments in fossil fuels
•Divest from direct ownership and any commingled funds that include fossil fuel public
equities and corporate bonds within 5 years
Name
1
Contact email or address
Signature
Calow Against Gas Extraction (CAGE); Derby Climate Coalition; Glossopdale Transition Initiative; Melbourne Area
Transition; Sustainable Edale; Transition Belper; Transition Chesterfield, Transition Hope Valley, Transition New
Mills. Transition Wirksworth; University of Derby Students’ Union. [groups signed up as of 31 Oct 2015] Please
send completed signed sheets to 87 Newbold Back Lane, Chesterfield S40 4HH
Why are we asking Derbyshire County Council to divest from fossil fuels?
1.
Derbyshire County Council Pension Fund has £290 million invested in fossil fuel
industries, including Royal Dutch Shell, BP and Rio Tinto. Fossil fuel industries make up nearly
6% of the pension fund.
2.
The pension fund affects over 170 employers in Derbyshire including Derbyshire County
Council, all the borough and District Councils in Derbyshire [1]; Derby City Council; Chesterfield
College; Derby College; Derbyshire Fire Authority; Derbyshire Police Authority; Peak District
National Park Authority; University of Derby and a large group of smaller employers.
3.
97% of climate scientists agree that humans are the primary cause of recent climate
change, largely due to the release of greenhouse gases from the combustion of oil, coal and
gas for heat and power.
Climate change is happening now - we’re already experiencing global temperature rise,
warming oceans, shrinking ice sheets and more frequent and intense extreme weather events.
Whole ecosystems are threatened, and people's lives are at risk due to flooding, food and
water insecurity, creating climate change refugees.
4.
In order to stop the global climate warming by 2 °C above pre-industrial levels and avert
global catastrophe, 80% of all known fossil fuels must stay in the ground. By removing
investments in fossil fuel companies Derbyshire County Council will be showing its commitment
to creating a healthy, sustainable future for both the people of Derbyshire and the planet as a
whole.
5.
There is also a financial argument to divest from fossil fuels. The need and growing
political pressure to leave as much of our fossil fuels in the ground make the risk of stranded
assets (worthless fuel stocks that regulation will prevent from being burned) very real. At the
same time it is becoming more expensive both to find and to extract the remaining fuel
deposits, while, renewable energy technology is becoming more efficient and less expensive.
[6]. Both of these factors create risks for investors. People and institutions that own shares in
fossil fuel companies will see the value of their investments decrease.
6.
Institutions across the world including churches and universities, the Environment
Agency [9] as well as local authorities in the UK such as Bristol City Council and Oxford City
Council have already committed to divest from fossil fuels. Let's see Derbyshire join them in
making this small but impactful commitment.
[1] Amber Valley Borough Council; Bolsover District Council; Chesterfield Borough Council;
Derby City Council; Derbyshire Dales District Council; Erewash Borough Council;; High Peak
Borough Council; North East Derbyshire District Council; South Derbyshire District Council