Haringey Council's Pensions committee agreed last night to move one-third of their equity funds, representing over £100 million in assets, to a Low Carbon Fund. By undertaking this move, Haringey will be one of the first councils to actively reduce their investment in fossil fuels.
This follows submission of the Friends of the Earth divestment petition, supported by Muswell Hill Sustainability Group and many other Haringey climate groups. With over 2500 signatures, Haringey Council is forced to debate the issue at Full Council.
Now that the pensions committee has recommended the partial switch to low carbon investing it is very likely this will be adopted by Full Council.