Dirty pensions: £10 billion still invested in fossil fuels by local government pension funds
Despite local councils declaring a climate emergency, billions of pounds are still invested in planet-wrecking fossil fuels through local government pension funds.
A new report by Friends of the Earth and Platform has been released today which details the investments of all the UK's Local Government Pension funds, and debunks all of the excuses used by the funds for not divesting with comprehensive and well researched facts. Click here for the report.
Additionally a report as far back as 2017 by Client Earth debunks several common misconceptions of pension fund managers and opens them up for legal challenge:
Senedd 2021 Manifesto Pledge For Divestment
The following is an open letter sent to all political party leaders for the Senedd elections 2021.
Dear Party Leaders
We write on behalf of Divest Dyfed Dadfussoddi who campaign for the Dyfed Pension Fund and the Wales Pension Partnership to divest all investments within the Fund currently held in fossil fuel companies, and to re-invest in local renewable energy projects within Wales.
The heating of the planet poses the threat of climate catastrophe within a very few years (far earlier than 2050)...
The Climate Change Committee is advised by banks - how can the public trust its findings on fossil fuels?
The Climate Change Committee published its sixth UK carbon budget at the end of 2020 and included a report on the financing of the transition to a zero-carbon economy. So why did it fail to mention the estimated $200bn that Shell and BP are planning in new fossil fuel projects?
The full report published by the Independent is quite a shocking read!. All the more reason for our pension funds to fully divest from fossil fuels now, and re-invest in local renewable energy.
Partial win for local campaign group but too late to save pensioners £63 million
The campaign group Divest Dyfed Dadfusoddi welcomed news that Dyfed Pension Fund has made commitments to move part of its fund to fossil fuel free investments.
However, it has come too late to save a loss of £63 million in value of assets owned by pension holders.
In October 2019 councillors in Carmarthenshire unanimously passed a motion calling on the Fund to withdraw £141 million from fossil fuel companies and invest instead in local renewable energy. This was followed by a similar motion by Ceredigion County Council in January 2020...
Invest global pension funds to solve the Climate Emergency
Can we solve the Climate Emergency?
There are an estimated £37 trillion invested by pension holders in funds globally, including in fossil fuel companies.
If that were to be invested in solar panels with battery backup we would generate 37,000TWh of electricity per year. This is more than the current total electricity requirement for the whole world of 25,000TWh.
This will encourage faster transition to electrical transportation and heating. It would generate an income of £5...
Energy Local Launched in Llandysul
Llandysul Energy Local Club is a part of a growing network of innovative energy clubs across Wales. Ynni Sir Gâr are happy to announce that the Llandysul club is now up and running and ready for switching over to Octopus Energy (Energy Local’s partners) so that householders and small businesses can benefit from a local energy tariff.
An Energy Local Club is a system whereby local generation can be used by local residents and businesses. When local energy is not being produced you simply go over to a tariff provided by Octopus Energy as your energy supplier...
Ynni Sir Gâr EV Car charge points being installed in Carmarthenshire
We had a number of responses to our recent open call with several potentially suitable sites, which we are now assessing in more detail. We hope to install 2-3 Ynni Sir Gâr owned public EV chargepoints within the next few months, with the intention of installing more next year.
Additionally, work on public EV chargepoints on Carmarthenshire Council car parks has started with groundworks complete on over twenty sites. Commissioning will take place later this year as things are currently on hold due to Covid-19...
Interested in EV chargepoints?
Are you interested in an electric vehicle (EV) chargepoint?
Carmarthenshire Energy are seeking organisations to host electric vehicle chargepoints. Carmarthenshire Energy will cover supply and installation costs, and all running costs other than supply of electricity.
The host benefits by bringing in extra custom from electric vehicle users looking to use facilities whilst charging.
Ideally the host will be looking to increase their footfall and be located in close proximity to trunk roads or other areas with high EV demand...
New Electric Charge Point in Johnstown Carmarthen
There is now an electric car charge point in Xcel Bowl, Johnstown, Carmarthen! We have covered the supply and installations costs for this new point, as well as covering all running costs other than the supply of electricity. Xcel Bowl, as the hosts, will benefit by bringing in extra custom from electric vehicle users looking to use facilities whilst charging. Pop in for a coffee or a game of bowling: https://www.xcelbowl.co.uk/
A Really Simple Plan To Solve The Climate Emergency
It’s remarkable how everyone says that solving the Climate Emergency is going to be really complicated and expensive.
There’s actually a really simple way to solve the Climate Emergency.
Click here for the Really Simple Plan To Solve The Climate Emergency.