Huddersfield MP Barry Sheerman has signed a petition urging the West Yorkshire Pension Fund to cut its fossil fuel investments. The Labour MP had previously supported the launch of the local fossil free campaign and has now put his name to the Fossil Free WYPF petition.
Barry Sheerman MP said:
“Climate change is the biggest threat facing humanity and we now know that the vast majority of fossil fuel reserves need to stay in the ground to prevent catastrophic climate change. Divesting from fossil fuels is one way our local institutions like the West Yorkshire Pension Fund, can help reduce the power and influence of the fossil fuel industry and speed up the transition to renewable energy. Divesting is also a financially prudent decision as it will protect WYPF pension fund holders from the risk of ‘stranded assets’ when the carbon bubble bursts”.
The Fossil Free WYPF group is campaigning for the WYPF to freeze its investments in fossil fuels and then carry out a managed programme of divestment over a five year period.
Chayley Collis from the Fossil Free WYPF campaign said:
“Thanks to Barry Sheerman for showing great leadership in supporting the Fossil Free West Yorkshire Pension Fund campaign. We would encourage all West Yorkshire politicians to follow Barry’s example and get behind the campaign”.
Barry Sheerman is the second West Yorkshire MP to back the Fossil Free WYPF campaign, which is also supported by Naz Shah (MP for Bradford West). Fossil Free WYPF are encouraging local residents to support their campaign by signing an online email for members and petition for residents: act.350.org/letter/divest-wypf/