[DurhamDivest] Divestment from fossil fuels: update and actions

Fri Mar 3 13:24:55 UTC 2017

Hi All

If Newcastle University can do this what's wrong with Durham University!

"Specifically, the university’s governing council said it would ensure 
it only procured assets from fund managers who are signed up to the 
*United Nations Principles for Responsible Investment (UNPRI)*. It also 
said it would give preference to investment managers who preferentially 
invest in “progressive companies that are working towards low carbon 
solutions and who will provide the University with reports on the carbon 
footprint of companies within its portfolio”

The university said the new strategy meant it would aim to divest its 
£60m of endowment funds from thermal coal and oil/tar sand companies, as 
well as other “non-progressive oil and gas companies”, within five years.

“Newcastle University is committed to furthering environmental 
sustainability and we have a strong track-record in this regard,” said 
Mark I’Anson, chair of Newcastle University’s Council, in a statement. 
“Not only is it a main focus for our research through our 
internationally leading Institute for Sustainability, but as an 
organisation, we continue to score highly in the influential ‘People and 
Planet’ Green League table. So it is right that our investment decisions 
are consistent with these values."

This article is from May 2016.

https://www.theguardian.com/environment/2016/may/25/universities-of-newcastle-and-southampton-join-fossil-fuel-divestment-push

All the best

Susan

On 03/03/2017 12:25, mark wrote:
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> Thanks Susan, that's really interesting.
>
> If anyone knows the state of play with non-Christian faith-based
> organisations, we should include them too. Anyone?
>
> Mark
>
>
> Susan Wesley:
>> Hi All
>>
>> Some information on divestment from fossil fuels by some religious
>> organizations.
>>
>> The Cathedral would come under Church of England, which has
>> divested from coal and tar sands.
>>
>> Quakers, United Reformed Church of Scotland and Student Christian
>> Movement have fully divested from fossil fuels. The rest coal and
>> tar sands only.
>>
>> Quakers in Britain    Faith-based Organization    UK    Full
>>
>> United Reformed Church of Scotland    Faith-based Organization UK
>> Full
>>
>> Student Christian Movement    Faith-based Organization    UK
>> Full
>>
>> Church in Wales    Faith-based Organization    UK    Coal and Tar
>> Sands Only
>>
>> Church of England    Faith-based Organization    UK    Coal and
>> Tar Sands Only
>>
>> Church of England Diocese of Oxford    Faith-based Organization
>> UK Coal and Tar Sands Only
>>
>> Church of Scotland    Faith-based Organization    UK    Coal and
>> Tar Sands Only
>>
>> Methodist Church of Britain    Faith-based Organization    UK Coal
>> and Tar Sands Only
>>
>> Enjoy your day
>>
>> Susan
>>
>>
>> On 03/03/2017 10:56, mark wrote: Here's a quick update from the
>> Durham Divestment Alliance with news and easy actions you can take
>> to support our campaign.
>>
>>
>> Durham County Council =====================
>>
>> Recent FOI requests by Community Reinvest [1] have revealed that
>> DCC has £128 million directly invested in fossil fuel stocks, and
>> probably the same amount indirectly. That amounts to 12% of the
>> total value of their (our) pension fund.
>>
>> Whether you're a DCC employee who doesn't want to be exposed to
>> the climate bubble, or a council tax payer who doesn't want your
>> cash funneled into this destructive industry, you might object to
>> this.
>>
>> New rules (the 2016 Investment Regulations) come into effect on
>> April 1st 2017. This will oblige DCC to publish an Investment
>> Strategy Statement (ISS) detailing how it intends to address the
>> financial risks that climate change poses. That means they have to
>> come off the fence and get real about this challenge.
>>
>> Fortunately, we have an uncommon opportunity to make our views
>> heard on this matter, as we're approaching local elections on May
>> 4th. Many candidates are already campaigning, but the deadline for
>> nominations is not until April 4th, so keep an eye out for late
>> entrants.
>>
>>
>> Suggested Actions : -------------------
>>
>> * Write to DCC Strategic Finance department [2] asking how they
>> intend to deal with climate risk in their forthcoming ISS; it's
>> sometimes easier to get these things changed before they're
>> published.
>>
>> * Ask all of your local candidates (current councillors and
>> challengers) how they stand on pension fund divestment, and let
>> them know you'll be voting for whoever gives the best answer.
>>
>> * Subscribe to the Durham Divestment Alliance mailing list [3] to
>> keep informed about this issue and forthcoming actions.
>>
>>
>> Durham University =================
>>
>> The university has completed its consultation in which views and
>> information on divestment were invited. There was a large response
>> with the strongest arguments and numbers being in favour of
>> divestment. This is now working its way through different
>> committees before a conclusion is announced. Big kudos to People &
>> Planet for their campaigning on this.
>>
>>
>> Durham Cathedral & Churches ===========================
>>
>> No feedback has yet reached us about the progress of divestment
>> proposals in the cathedral or any faith communities, who we know
>> have large fossil fuel investments. If you have any news on this,
>> please send it to DurhamDivest at lists.aktivix.org
>>
>>
>>
>> [1] http://communityreinvest.org.uk/ [2]
>> http://www.durham.gov.uk/article/9931/Corporate-Finance [3]
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