Fossil Free Shropshire is a campaign group calling on the £2 billion Shropshire County Pension Fund to stop investing in fossil fuel companies.
Why are we doing this?
Two reasons:
FOSSIL FUELS ARE A FINANCIAL DISASTER
Between 2017 and 2020 the Shropshire County Pension Fund lost an estimated £11 million due to its investment in fossil fuel companies including BP and Shell (source). During the same period, investment in the renewables sector achieved record returns. Shropshire Council taxpayers are the ultimate guarantors of the fund.
FOSSIL FUELS ARE AN ENVIRONMENTAL DISASTER
For every £1 invested by fossil fuel majors, over 95p ends up in further expansion of oil and gas reserves that are incompatible with a Net Zero trajectory (source)
WAIT, DIDN'T SHROPSHIRE COUNCIL VOTE TO DIVEST...?
Yes it did. In July 2020, Shropshire Council passed a historic motion to divest its pension fund from fossil fuels. Other members of the pension fund including Telford & Wrekin, Shrewsbury, Oswestry, Wem, Much Wenlock Councils have written in support.
However the Pension Committee is refusing to listen, despite the fact that Shropshire Council is the Administering Authority of the fund...
We need Shropshire residents to make their voices heard and ensure that the democratic vote of Shropshire Council is not ignored.
WHAT CAN I DO TO HELP?
This autumn the Pension Fund Committee will make a
final decision about whether to not to divest.
Please sign our petition calling on them to protect our planet.
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