Council

Agenda Item 75


       

Subject:                    Fossil Fuel Non-Proliferation Treaty. Notice of Motion from the Green Group

 

Date of meeting:    3 February 2022

 

Proposer:                 Councillor Clare

Seconder:                Councillor Heley

                                   

Ward(s) affected:   All

 

 

This Council notes:

·         Cities across the world have shown their commitment to tackling the climate crisis by endorsing the call for a Fossil Fuel Non-Proliferation Treaty

·         BHCC’s pensions are held by the East Sussex Pension Fund, which still invests in fossil fuels

 

This council resolves:

(1)      That the Chief Executive write to the East Sussex Pensions Committee expressing our request for a two-year timeline to divest from fossil fuels; highlighting that continuing to invest in stranded assets risks a failure of their fiduciary duty to pension scheme members,

(2)      That Policy &Resources Committee be requested to commission a report: 

·           outlining options for removing BHCC pensions from the East Sussex scheme, and reinvesting them elsewhere; should ESPF fail to act swiftly to protect pensioners’ investments

·           detailing how council can continue to support in principle the development of renewable technologies to phase out fossil fuels,

(3)      To endorse the call for Fossil Fuel Non-Proliferation Treaty to:

·           End new expansion of fossil fuel production

·           Phase out existing fossil fuel production

·           Invest in a transformational plan to ensure 100% access to renewable energy globally.

 

Supporting Information:

https://fossilfueltreaty.org/