Ethical investment

Our Council seems currently to be taking a caring and ethical approach to policy-making, focussed on the wellbeing of people and planet. At its recent webinar explaining its approach to budget design and the current constraints within which it has to operate, this was abundantly clear. Its policy goal for carbon neutrality by 2030 is something we can all be proud of, demonstrating as it does a commitment to do what it can to address problems that are global as well as local.

With this in mind I propose that it should resolve to ensure that its financial investments are equally ethical and divest from any holdings in companies involved in the manufacturing or marketing of fossil fuels or armaments, as detrimental to human and planetary wellbeing. 

Fortunately, ethical investments are giving excellent returns so that any potential dilemma that could dilute principle will not in practice have to be faced.  

Why the contribution is important

No one and no local authority exists in isolation. What is done locally has an impact on the wider world, and vice versa, and ethics must by definition serve the common good. An ethical investment policy is a policy for the good of all and will be something to be proud of.      

by dianamfrancis on December 29, 2020 at 04:22PM

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Comments

  • Posted by JudithEv January 08, 2021 at 09:41

    This is vital, and consistent with the Council's net-zero ambition. Fossil fuels are on the way out: new sources such as fracking and tar sands come at an unacceptable environmental price so they need to be halted now. Not one penny of Council-controlled money should be shoring up the fossil fuel economy. If the Council's investment advisors had to factor in the true cost of investment in fossil fuels, they would have to move the money (because of the requirement to get the best return).
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