[DurhamDivest] Divestment from fossil fuels: update and actions
Susan Wesley
swesley at phonecoop.coop
Mon Mar 6 14:47:01 UTC 2017
If time was on our side the slow progress would not be a problem,
unfortunately time isn't on our side, and I feel sad for your generation
who will have to cope with much worse extreme weather in the near future.
People and Planet are doing a great job and commend them for that.
Susan
On 06/03/2017 12:28, Tara Wight wrote:
> I agree that the process does seem to be moving very slowly, and that
> the Durham Energy Institute isn't being particularly helpful, however
> the Commission on Divestment is actually ahead of the agreed schedule
> which is good news! Max from People and Planet sits on the commission
> and is pleased with progress being made.
>
> In terms of holding a rally, I think this would be great later on in
> the process, however there isn't much appetite for this in People and
> Planet at the moment as we are yet to encounter much resistance to
> divestment. I expect that at later stages a big show of support for
> divestment will be necessary and it would be great to get together
> staff students, SCR etc for a demonstration!
>
> I will keep you updated on how People and Planet will be responding to
> each new development!
>
> Tara
>
> On 6 March 2017 at 11:38, Susan Wesley <swesley at phonecoop.coop
> <mailto:swesley at phonecoop.coop>> wrote:
>
> 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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