Letter to the Leader of Camden Council calling for divestment
Firstly we would like to congratulate both Camden Council and you on the successes of the Citizens' Assembly. Tackling the climate crisis requires a participatory approach and we are proud to see our borough forge ahead in this regard. The 17 proposals which resulted from the process are exciting and we are hopeful of their ratification in the forthcoming Council meeting.
We are writing to encourage Camden Council to seize this opportunity for climate leadership - by divesting its pension fund from fossil fuels. Investing in and so buffering the social license of the fossil fuel industry is one area in which Camden is sadly lagging.
The industry is - naturally - at the root of the climate crisis, and committed to exacerbating it.
An increasing number of public institutions have recognised this and acted accordingly by divesting: New York City, the City of London, the National Trust, and of course our own neighbours Islington Council (alongside Southwark, Waltham Forest and others). These bodies have also been motivated to protect their investments from the danger of stranded assets, as acknowledged by Mark Carney and others, displaying that fossil fuel divestment is a decision taken for the financial welfare of a fund and in line with fiduciary duty.
Camden could be the most nationally consequential council to divest from fossil fuels. Considering the size, renown, and proud divestment history of the borough, a commitment would resonate widely. Climate politics is currently in a highly dynamic state, with action that seemed radical a year ago now largely accepted and celebrated. Fossil fuel divestment is no different.
With the spotlight still on our borough we fear Camden may lose a golden opportunity to become a national leader on progressive values. We want our borough to be out ahead again, honouring its name and its heritage and blazing a trail for others to follow, while also protecting the futures of its public servants with foresight.
We will eagerly await your response on this matter and appreciate your time in considering it.
From: [Your Name]
Divest the Camden pension fund from fossil fuels.