[DurhamDivest] Divestment from fossil fuels: update and actions
Susan Wesley
swesley at phonecoop.coop
Mon Mar 6 11:38:18 UTC 2017
Yes, Newcastle's divestment is not ideal but at least they are doing
something. Durham just keeps dragging their feet. Durham Energy
Institute doesn't help.
It is good that so many university staff, students and SCR members
support the push for divestment. it would be even better if we could all
get together for a rally?
Susan
On 04/03/2017 17:29, Tara Wight wrote:
> Thanks for sharing that Susan!
>
> I think we are hoping Durham uni will do a little better than
> Newcastle in terms of divestment. I know a lot of campaigners in
> Newcastle were really disappointed in the outcome as this allows the
> university to continue investing in 'progressive oil and gas
> companies', whatever such things may be.
>
> The process in Durham is taking a while but we are hoping for full and
> unconditional divestment from fossil fuel companies, and the fact that
> this has lots of support from staff and students is really good news!
>
> Tara
>
> On 3 March 2017 at 13:24, Susan Wesley <swesley at phonecoop.coop
> <mailto:swesley at phonecoop.coop>> wrote:
>
> 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
> <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 toDurhamDivest at lists.aktivix.org
>>> <mailto:DurhamDivest at lists.aktivix.org>
>>>
>>>
>>>
>>> [1]http://communityreinvest.org.uk/ <http://communityreinvest.org.uk/> [2]
>>> http://www.durham.gov.uk/article/9931/Corporate-Finance
>>> <http://www.durham.gov.uk/article/9931/Corporate-Finance> [3]
>>> https://lists.aktivix.org/mailman/listinfo/durhamdivest
>>> <https://lists.aktivix.org/mailman/listinfo/durhamdivest>
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