HARINGEY COUNCIL HAS AGREED TO DIVEST FROM HARMFUL FOSSIL FUELS

Our petition campaign, which successfully encouraged Haringey Council to pledge to invest one-third of its equity funds into a Low Carbon Fund, has been getting a lot of positive publicity. See links below.
It is now official that the full Council will debate our petition on Thursday 17 March at 7.30 PM
at Civic Centre, High Road, Wood Green N22 8LE (just north of the junction with Bounds Green Road)
Please put this date on your calendar, and come along to show the power of public opinion!

There are now institutions globally worth over $3.4 trillion which have committed to divest assets from fossil fuels.


www.thetottenhamindependent.co.uk/news/14211889.Victory_for_environment_campaigners_after_council_pledge/
www.pensionfundsonline.co.uk/content/pension-funds-insider/investment/haringey-to-invest-200m-in-green-fund/2038
Business Green www.businessgreen.com/bg/analysis/2442581/ethical-investment-in-spotlight-as-firms-face-growing-pressure-to-adopt-low-carbon-investment-strategies:
“Meanwhile, the divestment movement continues to gather momentum, with London's Haringey Council last week pledging to divest completely from coal and move £200m of equity funds into a Low Carbon Fund following pressure from local campaigners to invest its capital more ethically.
A petition organised by local residents and campaigners has now attracted more than 2,500 signatures and will be presented at the next Full Council meeting to try and persuade councillors to move even more of Haringey Council's assets into Low-Carbon equities in the near future.”
http://gofossilfree.org/uk/press-release/haringey-council-divests-from-coal-and-moves-200-million-into-low-carbon-fund/
www.facebook.com/FossilFreeUK/posts/500695830117930?fref=nf

On 17th March 2016 Haringey Council's pensions committee undertook to review annually the opportunities for them to divest further funds from fossil fuels in order to reduce climate change. At the Council meeting debating our petition calling on the Council to divest, Councillor Claire Bull, chair of the Pensions Committee, encouraged other London councils to follow Haringey's example and divest. The committee decided in January to move a third of its pension fund into low-carbon investments. Councillor Bob Hare emphasised that desertification and severe damage to food production would be likely if climate change was not reduced.

Introducing the petition, Quentin Given of Tottenham and Wood Green Friends of the Earth praised Haringey Council for taking a leading position among UK Councils in being the first to make a specific fossil fuel divestment action. He outlined how divesting would be likely to protect the Council’s investments, pointing out that the use of coal is rapidly declining, with the large coal company Peabody now on the verge of bankruptcy. He also called on the Council, as a customer of Barclays Bank, to urge Barclays to drop its subsidiary company’s plans to undertake fracking near the North Yorkshire Moors National Park. Councillor Natan Doron pointed out that the Confederation of British Industry is calling for action to reduce climate change as it recognises the harm that the economy will suffer otherwise.