A Labour council has made Haringey the first London borough to partially divest its pension fund from fossil fuels. Last week, the council decided to divest its pension fund from coal
Cllr Joe Goldberg, Haringey Council’s Cabinet Member for Economic Development, Social Inclusion and Sustainability, said:
“When we are seeking to become London’s first zero-carbon borough, it doesn’t make sense for us to continue to invest in fossil fuels when we want to reduce, and indeed end, demand for them. The interest in this issue from local campaigners shows how passionately people in Haringey feel about the environment, and we share that passion.
“I’m proud that the council’s pensions committee has agreed not only to move some funds into a low carbon fund but to also consider investing in low carbon industry, giving us the opportunity to tackle carbon emissions while still getting the best return on our pensions fund.”