Issue - meetings

Petitions and Public Address

Meeting: 14/09/2018 - Pension Fund Committee (Item 46)

Petitions and Public Address

Decision:

Professor Allan Allport of Fossil Free Oxfordshire, addressed the Committee with reference to Agenda Items 9, Risk Register, and 21 ‘Annual Report and Accounts 2017/18’.

Minutes:

Professor Allan Allport of Fossil Free Oxfordshire, addressed the Committee with reference to Agenda Items 9, Risk Register, and 21 ‘Annual Report and Accounts 2017/18’. He urged the Committee to waste no more time in following the lead of the Government and the United Nations to divest in fossil fuel investment. He added that, in his view, the Oxfordshire Pension Fund Committee was unlikely to fulfil its fiduciary duty unless it addressed the issue of oil and gas becoming stranded assets. Furthermore, he stated that, despite assertions made to the contrary, this would happen overnight.

 

Professor Allport reminded the Committee that Oxfordshire County Council, had, at its 27 March 2018 Council meeting, unanimously agreed to call upon this Committee ‘to incorporate the latest and best advice available on ESG matters when reviewing its policies and drawing up the next 3-year investment Strategy’. He added that the Committee had failed to act on it and concluded by asking the Committee to proceed quickly with the transfer of its assets into one of the Fossil Free funds.