Divest East Sussex (DES) is protesting against East Sussex County Council’s investment in fossil fuel companies that contribute to the climate crisis on the 6th of February in Lewes.
DES wants the East Sussex Pension Fund to stop investing in large fossil fuel companies and make more environmentally friendly investments.
The protest will begin at 8:15 am, and DES campaigners will march to County Hall in Lewes carrying giant letters spelling out ‘TIME TO DIVEST’.
Sarah Hazlehurst, DES member, said: “The main aim is to get them to divest their pension fund from fossil fuels. Obviously, that’s related to the much bigger picture of the climate emergency.
“This is a specific thing; once they’ve divested from fossil fuels, we know that doesn’t mean the end of the climate emergency. But it’s one small step, and it’s hitting the fossil fuel companies in the pocket.”
DES claims the East Sussex Pension Fund has millions of pounds of local people’s pension monies invested in corporations such as Shell and BP.
Sarah Hazlehurst, said: “It’s a climate emergency, it’s already happening, we know that. I have grandchildren, and I want them to have a future. But the way things are going, it is extremely scary.”
There will also be music, drummers, and a performance by the theatre group The Crude Mechanicals at this protest.
This protest coincides with East Sussex County Council’s last full council meeting before the Pension Committee votes on fossil fuel divestment.
An East Sussex Pension Fund spokesperson said: “East Sussex County Council is designated under legislation for the local administration of pensions and other benefits payable for people entitled to the Local Government Pension Scheme in the county.
“The Fund’s primary responsibility is to pay pensions to its 82,000 pension scheme members, and must make investment decisions to generate a return in order to achieve this.
“The Fund invests in line with regulation and only invests indirectly through investment managers and not in any company directly.
“It has a strong focus on responsible investment in its stewardship of assets and takes climate risk and environmental, social and governance factors into account when investing.
“The Fund has removed fossil fuel companies from its equity allocation within the investment portfolio and has also reduced the exposure in other parts of the portfolio. Instead the Fund has a focus on investing in climate solutions, greener revenues, and resource efficiency.”
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