Isle of Wight Council

02 Dec 2021

Plans to move away from fossil fuels

The Isle of Wight Council looks set to take another major step towards achieving its zero-carbon ambition.

The council has underlined its commitment to tackling climate change by announcing plans to make its own public sector investments greener by moving them away from fossil fuels — and to encourage the administrators of the Isle of Wight Pension Fund to do the same.

The landmark commitment forms part of 'Mission Zero', the authority's bold and far-reaching climate and environmental strategy which sets out how the Island can be carbon neutral by 2040 — ten years before the government target.

As an environmental leader, and to help it achieve net-carbon zero in its own operations by 2030, the council has vowed to conduct a full review of all its investments with a view to divesting money away from activities that cause environmental harm.

Councillor Jonathan Bacon, Cabinet member for the environment, explained: "We're already progressing work to evaluate the current carbon footprint of the pension fund.

"Once this has been established the pension fund committee will consider all the options available on how best to reduce the fund's carbon footprint, while meeting its legal obligations to the members of the scheme.

"Our aim is to eradicate environmental harm as soon as practically possible."

Approved in September, the ‘Mission Zero’ Climate and Environment Strategy 2021-2040 commits the authority to making sure all strategic decisions, planning approach decisions and budget setting across all areas of council work are considered in line with its ambitious targets.

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The council has pledged to move investments away from fossil fuels. Image: Getty Images
The council has pledged to move investments away from fossil fuels. Image: Getty Images
Factfile
  • The landmark commitment forms part of 'Mission Zero', the authority's bold and far-reaching climate and environmental strategy which sets out how the Island can be carbon neutral by 2040.
  • The council has vowed to conduct a full review of all its investments with a view to divesting money away from activities that cause environmental harm.
 
Isle of Wight, UK