COUNCIL REVEALS PLANS TO MOVE AWAY FROM INVESTMENTS IN FOSSIL FUELS

The Isle of Wight Council looks set to take another major step towards achieving its zero-carbon ambition.

After declaring a climate emergency in 2019, the council has underlined its commitment to tackling climate change by announcing plans to make its own public sector investments greener by moving them away from fossil fuels — and to encourage the administrators of the Isle of Wight Pension Fund to do the same.

The landmark commitment forms part of ‘Mission Zero’, the authority’s bold and far-reaching climate and environmental strategy which sets out how the Island can be carbon neutral by 2040 — 10 years before the government target.

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As an environmental leader, and to help it achieve net-carbon zero in its own operations by 2030, the council has vowed to conduct a full review of all its investments with a view to divesting money away from activities that cause environmental harm.

Councillor Jonathan Bacon, Cabinet member for the environment, explains:

“We’re already progressing work to evaluate the current carbon footprint of the pension fund.

“Once this has been established the pension fund committee will consider all the options available on how best to reduce the fund’s carbon footprint, while meeting its legal obligations to the members of the scheme.

“Our aim is to eradicate environmental harm as soon as practically possible.”

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Approved in September, the ‘Mission Zero’ Climate and Environment Strategy 2021-2040 commits the authority to making sure all strategic decisions, planning approach decisions and budget setting across all areas of council work are considered in line with its ambitious targets.

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lucas
lucas
1 month ago

Why not invest in a company making the batteries for electric cars? staggering pollution on the processing of materials dug out by child labour, then you can virtue signal your “zero emission” credentials with your overpriced battery vehicle fleet. All this meaningless enviromental window dressing does come at a price, oil products are not going away, so invest in whatever gives a good return.

isle of wighter
isle of wighter
Reply to  lucas
1 month ago

how about the council stop trying to be stock market traders and just allocate cash they receive from central government and council tax payers into the areas that the islanders need to see focus on.

rodney burt
rodney burt
1 month ago

Don’t hold your breath

oldbutalive
oldbutalive
1 month ago

On the one hand they say they want to go carbon neutral, but on the other hand, they are passing the majority of planning applications that will take away greenfields which help to produce oxygen and help to store carbon.

Miss sensible
Miss sensible
1 month ago

The pension fund committee will consider all options to reduce the carbon footprint !!!!!!
Well how about you don’t take our council tax (proportion of which goes to council employees for their pension fund)…..
That will save a lot of time effort and energy transferring it out of one account to another!!!!!
So start this year and we can help by not paying excessive increases ,yes ?
And before you whinge on about previous councillors …………
Leaving problems Mr Bacon was involved with the floating bridge fiasco !!!! Yes …..
Services cut because of waste of money piece of junk !!!!

Dicky Daniels
Dicky Daniels
1 month ago

Expect another huge increase from County and town councils,. Who have no concern for hard pressed taxpayers.

Stillhere
Stillhere
1 month ago

Well how about doing away with the fossils occupying County Hall? Think of the savings there?

 

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