Protestors take to streets of Derbyshire town

Protestors from Extinction Rebellion (XR) Chesterfield and North East Derbyshire were drawing attention to the Derbyshire Pension Fund’s continued investment in fossil fuels.

One member had black ‘crude oil’ poured over her by a ‘faceless bureaucrat’ while others dressed in white hazmat suits held up banners reading ‘Your pension at risk – oil investments going down the drain!’ and ‘Divest for Climate Justice’.

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Brian Lever, a spokesperson for Chesterfield and North East Derbyshire XR, said: “Investing in fossil fuel companies is total madness. The world is rapidly shifting towards renewables and away from climate-wrecking fossil fuels.

"However, the Derbyshire Pension Fund continues to support the extraction and burning of fossil fuels through its investments.”

Derbyshire County Council says it has ‘a duty to comply with statutory investment regulations which require the fund to hold a broad spread of investments in order to control risk’.

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The pension fund is currently consulting on its climate strategy but XR says a letter informing its 100,000 members has still not been received by many – despite the fact that the consultation ends on October 21.

Among those protesting was Anne Thoday, who is a Derbyshire Pension Fund member.

"How on earth can Derbyshire County Council pension fund expect its members to comment on a consultation when they are not made aware of its existence?” she said.

“The longer the pension fund waits to get out of fossil fuels, the greater the risk to the pension fund holders and council tax payers. There are a growing number of ‘green’ and alternative investment options, which have performed better than fossil fuels in recent years.

"We want Derbyshire to demonstrate its commitment to a green and fair economy, by taking its investments out of fossil fuels.”

A council spokesperson added: “Over the last few years, the fund’s investment in companies involved in the production of fossil fuels has halved to around four per cent of the portfolio, at the same time the fund has made new investments in global sustainable equities and renewable energy companies.

“We are consulting on our Climate Strategy at the moment and letters have gone out to all pension scheme members asking for their views.”

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