Moved by Councillor Ellsmore, seconded by
Councillor Worling –
It is resolved that Council:
(A)
note
that superannuation funds across Australia are some of the largest investors in
the fossil fuel industry;
(B)
note that
Active Super (formerly Local Government Super) and Vision Super manage and
invest superannuation for many local councils;
(C)
note
that, while Active Super and Vision Super have ethical investment strategies,
they continue to invest in some of the fossil companies with the largest
environmental impact, including companies with plans to expand coal or gas
projects in the future; and
(D)
submit
the following motion for consideration at the upcoming 2023 Local Government
NSW Annual Conference:
Topic: Encouraging Local Government Super Funds to
Support Ethical Investments
That
Local Government NSW:
(a) actively
encourage local government super funds Active Super and Vision Super to divest
from companies engaging in the extraction of fossil fuels, native forest logging,
in addition to gambling, weapons manufacturers, and tobacco, and
(b) actively
encourage local government super funds Active Super and Vision Super to refrain
from the practice of ‘greenwashing’, requesting that they not promote their
funds as being environmentally friendly or ethical investors if they continue
to invest in companies engaging in the extraction of fossil fuels, native
forest logging, gambling, weapons manufacturers, and tobacco.
The motion
was carried on the following show of hands –
Ayes (7) The
Chair (the Lord Mayor), Councillors Chan, Davis, Ellsmore, Kok, Weldon and
Worling
Noes (2) Councillors Gannon and Jarrett.
Motion
carried.
X086659