In accordance with the Notice of Motion received under Section 4.19 of the Constitution, Councillor Beca Roberts will propose as follows:-
1. Recognising that the Pensions
Committee has and intends to address these issues as part of a review of the
Responsible Investment Policy that Gwynedd Council is requests the Committee
and the Wales Pension Partnership, to consider the extent it can move as soon
as possible to disinvest in fossil fuels as part of the desire to be net
zero carbon, in a transparent and accountable manner and in line with its legal
duties to the fund.
2. That Gwynedd Council calls on the UK
Government to establish an annual conference on ethical and sustainable
investing with a view to promoting the best use of the funds available.
Decision:
In
accordance with the Notice of Motion received under Section 4.19 of the
Constitution, Councillor Beca Roberts proposed as follows:
1.
Recognising that the Pensions Committee has and intends to address these
issues as part of a review of the Responsible Investment Policy that Cyngor
Gwynedd requests the Committee and the Wales Pension Partnership, to consider
the extent it can move as soon as possible to disinvest in fossil fuels as part
of the desire to be net zero carbon, in a transparent and accountable manner
and in line with its legal duties to the fund.
2.
That Cyngor Gwynedd calls on the UK Government to establish an annual
conference on ethical and sustainable investing with a view to promoting the
best use of the funds available.
Minutes:
(A) Submitted - the following notice of
motion by Councillor Beca Roberts under Section 4.19 of the Constitution, and
it was seconded:-
1.
Recognising
that the Pensions Committee has and intends to address these issues as part of
a review of the Responsible Investment Policy that Cyngor Gwynedd requests the
Committee and the Wales Pension Partnership, to consider the extent it can move
as soon as possible to disinvest in fossil fuels as part of the desire to be
net zero carbon, in a transparent and accountable manner and in line with its
legal duties to the fund.
2.
That
Cyngor Gwynedd calls on the UK Government to establish an annual conference on
ethical and sustainable investment with a view to promoting the best use of the
funds available.
The member set out
the context to her motion, noting:-
· That Wales is a unique nation where
vows are included in the law, by means of the Well-being of Future Generations
(Wales) Act 2015, to consider the next generation.
· A duty to invest responsibly in the
financial future and environmental future of the county was highlighted.
· It was noted that looking after
pensions involved securing robust investments that looked towards the future.
· It was highlighted that there was no
long-term sense or guarantee in investing in fossil fuels as the world moved
towards renewable energy.
· Investing in renewable energy,
affordable homes and local infrastructure would offer a more prosperous, safe
and reliable future.
· She expressed that only 2.5% of the
Pension Fund was invested in fossil fuels, but what about investing in things
that would bring direct benefits to communities, such as affordable housing,
regenerative agriculture and funds for Social Enterprises.
· If Gwynedd showed leadership in this
arena, it would provide a clear example of good practice in relation to the
application of the Well-being of Future Generations Act to secure the best
outcomes.
Support was
expressed to the amendment.
RESOLVED to adopt
the motion, namely:-
1.
Recognising that the Pensions Committee has and intends to address these
issues as part of a review of the Responsible Investment Policy that Cyngor
Gwynedd requests the Committee and the Wales Pension Partnership, to consider
the extent it can move as soon as possible to disinvest in fossil fuels as part
of the desire to be net zero carbon, in a transparent and accountable manner
and in line with its legal duties to the fund.
2.
That Cyngor Gwynedd calls on the UK Government to establish an annual
conference on ethical and sustainable investment with a view to promoting the
best use of the funds available.
(B) Submitted - the following notice of
motion by Councillor Beca Roberts under Section 4.19 of the Constitution, and
it was seconded:-
3.
Recognising
that the Pensions Committee has and intends to address these issues as part of
a review of the Responsible Investment Policy that Cyngor Gwynedd requests the
Committee and the Wales Pension Partnership, to consider the extent it can move
as soon as possible to disinvest in fossil fuels as part of the desire to be
net zero carbon, in a transparent and accountable manner and in line with its
legal duties to the fund.
4.
That
Cyngor Gwynedd calls on the UK Government to establish an annual conference on
ethical and sustainable investment with a view to promoting the best use of the
funds available.
The member set out
the context to her motion, noting:-
· That Wales is a unique nation where
vows are included in the law, by means of the Well-being of Future Generations
(Wales) Act 2015, to consider the next generation.
· A duty to invest responsibly in the
financial future and environmental future of the county was highlighted.
· It was noted that looking after
pensions involved securing robust investments that looked towards the future.
· It was highlighted that there was no
long-term sense or guarantee in investing in fossil fuels as the world moved
towards renewable energy.
· Investing in renewable energy,
affordable homes and local infrastructure would offer a more prosperous, safe
and reliable future.
· She expressed that only 2.5% of the
Pension Fund was invested in fossil fuels, but what about investing in things
that would bring direct benefits to communities, such as affordable housing,
regenerative agriculture and funds for Social Enterprises.
· If Gwynedd showed leadership in this
arena, it would provide a clear example of good practice in relation to the
application of the Well-being of Future Generations Act to secure the best
outcomes.
Support was
expressed to the amendment.
RESOLVED to adopt
the motion, namely:-
3.
Recognising that the Pensions Committee has and intends to address these
issues as part of a review of the Responsible Investment Policy that Cyngor
Gwynedd requests the Committee and the Wales Pension Partnership, to consider
the extent it can move as soon as possible to disinvest in fossil fuels as part
of the desire to be net zero carbon, in a transparent and accountable manner
and in line with its legal duties to the fund.
4.
That Cyngor Gwynedd calls on the UK Government to establish an annual
conference on ethical and sustainable investment with a view to promoting the
best use of the funds available.
1.
with a view to promoting the best use of the funds available.