Lismore to consider fossil-fuel-free investments

Lismore councillor Simon Clough. Photo Tree Faerie.

Lismore councillor Simon Clough. Photo Tree Faerie.

The Lismore City Council will decide next week whether to stop investing its funds in financial institutions that back fossil fuels.

Councilor Simon Clough has lodged a notice of motion that calls on the council to give preference to institutions that do not invest in or finance fossil fuels.

Cr Clough said it ‘makes sense’ to go fossil fuel free.

‘Councilors are aware of the strong stand that this council took against unconventional gas drilling and associated activities in this local government area,’ Cr Clough said.

‘Lismore council has been at the forefront of the recycling and recovery field and through its Renewable Energy Master Plan has committed to partnering with the community to become independent of the electricity grid over the next eight years.’

He said as long as the investment was compliant with the council’s investment policy, and the investment rate of interest was favourable, the council should maximize its investment in fossil fuel free investment products.

‘Should council decide to pass this motion, Lismore will be the fourth council in Australia to move towards fossil fuel free investments,’ he said.

‘Council will also be confirming its leadership position in renewable energy and the replacement of fossil fuels.’

Cr Clough’s motion follows the council’s push towards using renewable energy in its offices and facilities.

The Renewable Energy goal was a direct response to the ‘Imagine Lismore’ community consultation process, where the community envisaged ‘Lismore being a model of sustainability’.

In support of the community’s vision, the council set the challenge to become 100 per cent self-sufficient in electricity from renewable resources by 2023.

The goal was adopted by the council in the 10 year Imagine Lismore plan.

The Lismore City Council will meet on Tuesday at 6pm.

2 responses to “Lismore to consider fossil-fuel-free investments”

  1. Ken says:

    First it’s sub-prime mortgages in America (Rate payers are now paying for that exercise in idiocity) and now they admit to funding CSG. WTF. Who exactley is in charge of financial investment and when will they be publically flogged ?
    I want a ticket and I bet it would raise more cash than the proposed levy for environmental protection, which I might add should, of course, be the first priority of any local government body. It makes you wonder what they have been doing up until now. Lets face, it the only worthwhile assest in the Lismore City Council area, is the natural environment.

  2. Alan McGregor says:

    On the way to this fossil fuel free Lismore, wouldn’t it be a good idea to promote a public transport system that uses less fossil fuels and helps remove some of the road traffic, especially freight. Railway lines can be used to encourage small, environmentally friendly, sustainable villages built around an efficient transport system.
    Mobility is an important part of getting people to work, educational facilities, medical and other amenities. Rail can do so safely, and is the only suitable way for people with disabilities, chronic illness, the elderly and for those in wheelchairs. It is preferred by tourists, especially for transporting bicycles or other mobility aids. Buses are not suitable for mountainous border crossings.
    Removing the railway infrastructure, promotes more road vehicles and higher density building along the coastline, stagnating the growth of future sustainable hinterland development.
    Rail trails in the Brisbane Valley, by removing a valuable asset that locals were happy to use, has not ‘revitalised’ the region, but is bringing it to its decline. Many people look for appropriate public transport when choosing a residence.

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