Glasgow councillors asked to commit to divest from fossil fuels

This Thursday a proposal to sign the C40 declaration to move city assets away from fossil fuels will be presented to members of the administration committee.

The plan commits Glasgow to becoming carbon neutral and for the local authority to investigate the membership of international climate action groups just weeks before Glasgow hosts world leaders at the COP26 conference.

The C40 network, which is a network of nearly 100 of the world’s leading cities who are working to deliver the urgent action needed right now to confront the climate crisis, has been a key partner for the council on the journey to COP26 and has provided a platform for the city to engage with a global constituency of urban peers.

From the end of the month, the council will be welcoming mayors from the network during COP and linking in to numerous policy debates with them. It is hoped this relationship will continue beyond the conference and ensure that Glasgow has a lasting legacy when hosting debates on delivering a net zero, climate resilient and just future.

It comes after a motion was carried to call on the Strathclyde Pension Fund to make a formal commitment to fossil fuel divestment and to reinvest the pension fund to drive a green recovery for the wider Strathclyde region

The C40 declaration asks signatories to take all possible steps to increase financial investments in climate solutions to help promote decent jobs in a green economy, call on pension funds to divest from fossil fuel companies and advocate for fossil-free and sustainable finance through other investment.

Signing the Declaration would signal Glasgow’s commitment to deliver transformative actions in order to achieve the aims and ambitions set out in its Climate Emergency Plan.

If agreed, the local authority will monitor progress and communicate this progress to C40 on an annual basis.