Ask your Wolverhampton councillor to support fossil fuel divestment
Campaign for Residents of Wolverhampton
Despite declaring a climate emergency in 2019, West Midlands Pension Fund, the £15 billion pension fund managed by Wolverhampton invests hundreds of millions of pounds - at least £320 million - in fossil fuel companies. Please use this form to send an email to your councillor to ask this funding to be allocated to climate solutions, not climate destruction.
The Climate Crisis is Now
2021 has been a year of extreme climate-driven events that have overwhelmed infrastructure everywhere from floods on the New York subway and the London Underground, to a million homes without power in Louisiana following Hurricane Ida. Even at 1.1C of global heating, rich countries are unprepared. And people in Madagascar are facing climate-induced famine, eating locusts to survive.
Fossil Fuels Cause Planet Destruction
The IPCC's 6th assessment report this year has firmly targetted fossil fuels as the key driver of climate breakdown. As U.N. Secretary-General Antonio Guterres commented, "This report must sound the death knell for coal and fossil fuels, before they destroy our planet."
Stop Funding Fossil Fuels
West Midlands Pension Fund invests over £320 million in companies which are driving the climate crisis. Local government pension investments should be to protect pensions, protect communities and protect life. Instead, the Fund is investing in the primary cause of climate change, oil, gas and coal companies like Shell and BP. These companies portray themselves as responsible on climate, but their climate plans have fallen short, even WMPF voted against Shell's much-anticipated plan.
Invest in Solutions
should invest in the UK and the West Midlands. It is allowed to invest
1% (£150 million) in the region. And it has 12 months to request
climate-friendly investment products. The fund should invest in green
homes, rebuilding manufacturing in the region, local renewable
generation, and push for Local Government Green Bonds which could be
invested in the community.
Please will you ask your local Wolverhampton councillor to sign our pledge to support WMPF divestment from fossil fuels and reinvesting locally to support a low carbon future. https://divestwmpf.org/the-pledge/.
This campaign is for residents of Wolverhampton. If you are outside Wolverhampton, please email the Pensions Committee.