Campaigners ask Birmingham City Council to divest from fossil fuels.
Numerous Birmingham climate groups came together in Victoria Square on Saturday 14th February to take action as part of Global Divestment Day.
Campaigners from Birmingham Friends of the Earth, Birmingham Climate Justice, Climate Action Network Birmingham, and Birmingham & Black Country Greenpeace put up banners, and presented a giant Valentine Card to Birmingham City Council.
The action formed part of the Birmingham Fossil Free campaign, which is calling on Birmingham City Council and other organisations in the city to divest from fossil fuels. Local authorities, along with many other institutions, have public money invested in fossil fuels, particularly through pension funds. Campaigners point out that these shares in the ‘carbon bubble’ are set crash, as money markets realise that fossil fuel reserves cannot be burned, because of the damage they are causing to the climate.
Jacob Williams of Birmingham Friends of the Earth said: “If Birmingham City Council is serious about tackling climate change, then it also needs to look at where its money is going, and make sure that it is investing in the clean renewable energy solutions of the future rather than the dinosaur fuels of the past.
“As we can only use 20% of known fossil fuel reserves, investing in this outdated source is not only ethically questionable, but also makes no financial sense.”
Emma McCarthy of Birmingham & Blackcountry Greenpeace added: “Birmingham City Council needs to be more concious of how they are investing public money. As the Fossil Free campaign gains momentum, hopefully Birmingham City Council will realise that fossil fuels are not a good investment financially or ethically.”
The worldwide Fossil Free campaign is one of the fastest growing campaigns in history. Since 2012, 181 institutions and local governments and 656 individuals representing over $50 billion in assets have pledged to divest from fossil fuels.
During Divestment Day on 13-14 February individuals and groups worldwide closed their bank accounts, held vigils, sit-ins and flash mobs, and urged institutions to ‘break up’ with the fossil fuel companies.
