East Sussex Protest "Chickens" To Address Councillor Fox Over Fossil-Fuel Investments

Friday, 21 August 2020 13:06

By John Warburton @Warblefly

East Sussex County Hall, Lewes (Photographer: Kevin Gordon / Creative Commons)

Campaigners who want East Sussex County Council's pension fund to end investments in fossil-fuel companies have planned another protest today (August 22).

"Divest East Sussex" members intend to hold an on-line meeting, wearing chicken masks, while addressing a Councillor Fox who chairs the pensions committee.

Members say their concern is that companies supporting the fossil fuel industry, by exploring or producing such sources of energy, are "driving the climate crisis".

The group claimed this week that more than eighty people have already registered to take part in the protest which the group is naming, "Councillor Fox: Don't let ESCC's fossil fuel chickens come home to roost".

Councillor Gerard Fox, a Conservative member for Hailsham New Town, has already said oil investments are already under constant review.

He also said, in July, the fund is answerable to its members and employers, and not the county council alone:

"The pension scheme is not owned by East Sussex County Council, but by the 76,792 scheme members and 128 employer contributors, of which the County Council is one employer.

"The Fund's approach has to balance the interests and views of all pension scheme members and stakeholders, rather than be swayed by one particular view."

Specifically addressing investments in companies which have, to date, concentrated on development and production of fossil fuels, he said:

"The Committee regularly debates the merits of Engagement vs. Divestment in relation to fossil fuels.

"It does not currently recognise blanket divestment from entire sectors as an effective or fiduciary approach.

"Institutional engagement with the large oil & gas companies is more likely to drive change.

"We see this recently with the announcements made by a number of oil companies like BP, in the wake of pressure from institutional investment groups.

"Such companies, while providing services that current day consumers cannot do without, also offer the potential to be a vehicle for change."

However, the protest group is calling for a more direct approach, as its member Fran Witt explained:

"With the window of opportunity to prevent catastrophic climate change rapidly shrinking - and the big oil companies writing-down almost $90bn worth of their assets over the past nine months - there's never been a more important time for ESCC to ditch its investments in fossil fuels (its 'fossil fuel chickens') before they come home to roost."

"Having already declared a 'climate emergency' ESCC now needs to put its words into action and stop funding the companies that are driving the climate crisis."