Western Australian Local Government Survey:
http://www.350perth.org.au/lgd_survey

The divestment campaign to move funds away from supporting fossil
fuels is one of the fastest in history. Announcements are occurring with increasing regularity including recently the Newcastle Council with $270 million in investments and the ACT Government. The ACT Government has also committed to 100% renewable energy by 2025.
Locally Fremantle Council and the Shire of Goomalling have already divested.

Most Australian councils have impressive records in local renewables and sustainability but this is nullified if they invest ratepayers funds in banks funding fossil fuel projects.
Councils can easily and cheaply change their term deposit investments to preference banks that do not invest in fossil fuels. There are many fossil fuel free banks available and this can be done within Council
risk requirements and at competitive rates of interest.
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Recent research by Citigroup has highlighted that if the Paris Climate Summit in December is a success then up to $100 trillion in stranded fossil fuel assets is likely. This will cause difficulties for banks
and superannuation funds that are heavily exposed to the fossil fuel industry. Consider divesting as an important strategy to minimise risks. Only then is the international goal of keeping the rise in
global temperatures below 2 degrees and within a range we are most likely to be able to adapt to, within our reach.

Please complete our local government survey and tell us your thoughts and support our drive to get council money to match your values.

Western Australian Local Government Survey:
http://www.350perth.org.au/lgd_survey

Thank you
The Local Government Divestment Team

Resources:
Newcastle City Announcement:
http://350.org.au/news/home-to-worlds-largest-coal-port-newcastle-city-council-divests-from-fossil-fuels/

ACT Government Announcement:
http://350.org.au/news/act-government-to-divest-from-fossil-fuels/

Citigroup Research:
http://www.theguardian.com/environment/2015/aug/19/coal-mining-sector-running-out-of-time-says-citigroup
http://reneweconomy.com.au/2015/citigroup-sees-100-trillion-of-stranded-assets-if-paris-succeeds-13431

Bank comparison table: http://www.marketforces.org.au/banks/compare
Superannuation details: http://superswitch.org.au/about-super-switch/

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