East Sussex Fossil-Fuel Pension Divestment Call Gathers Pace

One of two petitions launched by a campaigner who believes East Sussex County Council's pension fund should divest itself of fossil-fuel investments was on Sunday night (August 15) getting close to its target.

Since Sarah Hazelhurst from Brighton created the pair of petitions, the one that the general public can sign has reached 5,629 of its target of 6,000 supporters.

Crucially, Sarah, who's 62 and from Brighton, is a member of the committee that governs investments by the pension fund, which invests on behalf of county council employees, and also those working with Brighton and Hove City Council.

It is at those members that Sarah has directed a second petition, which by August 15 had reached only 13 of its target of 100.

And, in response to many questions and a long-running campaign from the climate-campaigners' group "Divest East Sussex", the pension fund committee has not pulled investments from companies exploring or supplying fossil fuel.

Campaigners say such financial support for fossil-fuel companies is "driving the climate crisis".

On many occasions, the elected councillors responsible for pension investment policy have claimed the fund's investment managers are 'engaging' with fossil-fuel companies as energy exploration opportunities generally move away from fossil fuels.

But full divestment is not a policy.

East Sussex County Council's pension fund reportedly holds £4.2bn of investments. and serves about 78,000 members.

Sarah's petitions, and support on the pensions committee for divestment, do not stand alone.

Other local authorities in East Sussex and Brighton have called for the fund's investments to change, as have Lewes MP Maria Caulfield (Conservative) and Brighton Pavilion's Caroline Lucas (Green Party).

Sarah said:

"Like many other people, I am increasingly concerned about the climate emergency we are now facing.

"In the last few months, we have seen that the effects of climate change are undeniably happening around the globe, including in rich countries like ours.

"As a grandmother of four, I want to make sure that we have done as much as possible to ensure that the world we pass on is habitable.

"I worked for East Sussex for many years, I am a Unison member and I am due to start receiving my East Sussex pension in less than three years.

"It is surely now more urgent than ever for the pension fund to completely divest from fossil fuels, which contribute so much to global heating.

"I urge my fellow Pension Fund members to sign the petition "

In January this year, the Pension Fund issued this statement:

"There’s no evidence that most East Sussex Pension Fund members, or other stakeholders, consider divestment from fossil fuel companies a pressing issue.

"But board members, fund staff and the County Council must regularly respond to criticisms and questions from vociferous campaigners on this topic."

A spokesperson for Divest East Sussex added:

"Divesting the East Sussex Pension Fund from fossil fuel companies would send a powerful signal to policymakers about the need to finally get serious about tackling the climate emergency, which requires the rapid phasing out of fossil fuels.

"By clinging on to these investments the East Sussex Pension Fund is instead providing a fig-leaf for these companies’ ongoing attempts to block effective climate action and missing a huge opportunity to show real leadership on the climate crisis."