Call on Waikato Regional Council to Divest from Fossil Fuels!
The Waikato Regional Council must fulfil its moral, legal and constitutional responsibilities as the guardian of our regional environment and play its part in creating a safe, sustainable future for the planet. We are calling on the Waikato Regional Council to adopt a socially and environmentally responsible investment policy and to stop putting our public funds into climate-wrecking coal, oil, and gas companies.
Call on the Waikato Regional Council to divest from fossil fuels
To the Waikato Regional Councillors,
We the undersigned ask that you deliver on your commitments in line with Waikato CAN - Te Ahuarangi Inaianei to achieve a more environmentally sustainable, prosperous and inclusive Waikato region by 2030. A vital part of this is to align your commitments with the Waikato Regional Council Investment Fund and immediately adopt a responsible investment policy that divests our public funds from climate-wrecking coal, oil, and gas companies.
1. Freeze all new investments in companies involved in the extraction, production and manufacturing of coal, oil, and gas. 2. Divest all holdings from the fossil fuel industry by 31 December 2022. 3. Update the Waikato Regional Council’s Statement of Investment Policy and Objectives to include a responsible investment policy that excludes harmful industries including fossil fuels, tobacco, gambling and firearms.
We are currently living in the fossil fuel era, but the science is clear that our dependency on carbon needs to end, and our public institutions like the Waikato Regional Council have a critical role to play in this transition. We need to cut off the investments that enable the fossil fuel industry to keep digging. We’re already seeing the impacts of climate change in Aotearoa, with more severe droughts, wildfires and floods, and we need to act now to limit further damages in the future.
Waikato Regional Council has a fiduciary responsibility to manage our regional funds well and has made a commitment to “endeavour to develop its investment practices consistent with evolving thinking regarding the significance of environment, social and governance factors within the decision-making process”. However, the fund currently has no responsible investment policy to exclude investments in harmful industries such as fossil fuels, tobacco, gambling and firearms.
We urge the Waikato Regional Council to use its investment funds in constructive ways, investing in projects, organisations and businesses that work to positively contribute to the environment, with the intention to generate measurable, beneficial social and environmental impacts.
It’s time for the Waikato Regional Council to adopt a responsible investment policy and invest in sustainable industries that will build a healthier future for all of us.