Sheffield’s Green councillors welcomed Labour’s last-minute change in Wednesday’s council meeting to confirm that Sheffield City Council “will not invest in fossil fuels.”
The change came after Labour councillors originally put an amendment which stopped short of full divestment, in response to the Green call for a plan to divest from all fossil fuels.
The change – which happened in the council meeting itself – means that the authority has now put on record formally that it will not invest in fossil fuels.
After the meeting, Cllr Rob Murphy said
“This is great news that the council will no longer make risky fossil fuel investments and can invest in positive alternatives such as housing, clean energy and the local economy
“The challenge is now on to other institutions and employers in the city, including the South Yorkshire Pensions Authority.”
Labour’s latest amendment stated that the Council:
“Confirms that the council does not and will not invest in fossil fuels demonstrating the council’s existing commitment to leading by example on fossil fuel divestment.”
- Details of the Green Party motion on divestment are at: http://archive.sheffieldgreenparty.org.uk/2016/10/30/councillors-to-debate-green-call-for-sheffield-to-become-first-fossil-free-city/
- Details of the Labour Party amendment are available at http://sheffielddemocracy.moderngov.co.uk/ieListDocuments.aspx?CId=154&MId=6353&Ver=4#AI13561. This included the pledge:
(m) commits to identify any necessary actions around divesting in fossil fuel companies over a reasonable period of time to be determined by the Cabinet Member for Finance and Resources;
- The final amendment by Labour councillors was to replace paragraph (m) above with:
(m) “Confirms that the council does not and will not invest in fossil fuels demonstrating the council’s existing commitment to leading by example on fossil fuel divestment.”