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March 5, 2021

Support the divestment movement against CSG

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One important action complementing the Bentley protection is divestment of funds from finance institutions supporting CSG and other fossil fuel industries. To quote the Echo editorial this week: this movement ‘is growing faster than the historic movements against tobacco and apartheid.’

If you are supporting the Bentley action, check that your money is actually helping not hindering the effort. The Big 4 Banks, super funds and investment groups loan your money to the fossil fuel industries. Ask your financial institutions how they invest your funds. They are required to reply. Small accounts or large — they all count. If you are unhappy about the answers from your financial institutions, there are many positive alternative institutions you can consider.

More info on Facebook at Fossil Free Northern Rivers and also at the major website gofossilfree.org/australia/

A national day of divestment action is May 3 and in Byron Bay on May 2.

People who divest do so for many ethical reasons. But, increasingly, there are also practical reasons. As the world begins to respond to challenges raised by climate change, fossil fuel companies are at risk of becoming bad investments and their works stranded assets.

Mary Gardner, Byron Bay


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1 COMMENT

  1. Webinars on the practicalities of divestment from fossil fuels
    Here’s an opportunity you may be interested in joining online, in the comfort of your office or home! 350.org and the Australian Religious Response to Climate Change are hosting two webinars on screening out fossil fuels from your investments with the help of accredited financial adviser Karen McLeod.
    Thursday, May 15th at 2 – 3 pm (Eastern Standard Time)
    Or Thursday, May 15th at 7.30 – 8.30 pm (same offering, different time)
    Is your organization or community interested in moving your money out of coal, oil and gas exploration, extraction and infrastructure but you’re discovering it’s complex? Maybe you’re finding that some of the companies investing in fossil fuels are also big investors in renewable energy. Or it’s hard to find socially responsible alternatives because so much of the ASX200 is tied up in fossil fuels. Perhaps you are concerned about the loss of jobs in mining that redirecting your investments might cause. Perhaps you’re uncertain that you would be fulfilling your fiduciary duty if you went down this path.
    We know how busy you are, so we’ve set this up so you don’t even have to leave the comfort of your office – just join in on your computer and ask your questions.
    To register, send your details to me (Thea Ormerod) at [email protected] and I’ll send you details of how to participate closer to the time. You can also call on 02 9150 9713 or 0405 293 466

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