March 16, 2016

Mayor of Bassendean calls on other councils to “divest from the fossil fuel industry”

Following the passing of a divestment motion at the Town of Bassendean last week, the Mayor John Gangell has called on other councils to join the Western Australian council and divest from coal and gas.

“I would encourage all other municipalities who haven’t already done so, to join with the Town of Bassendean and divest from the fossil fuel industry. Together we can make our future brighter with a healthier environment.” said Mayor Gangell.

Bassendean passed a motion to divest their $8.6 million fund last week, becoming the fourth council in Western Australia to divest, and the 16th in the country.

“I’m very pleased that the Town of Bassendean is doing our bit to safeguard our environment and future generations by making a conscience decision to invest in financial institutions that do not invest in or finance the fossil fuel industry,” concluded Mayor Gangell.

In committing to divest, Bassendean has joined over 500 institutions globally, representing US$3.4 trillion that have ensured their money is not invested in fossil fuels.

These include Allianz Insurance and Bendigo Bank, the cities of Paris and San Francisco, the London School of Economics and the University of California. In Australia, there are 16 local governments with AUD$5.5 billion under management that have divested, including Newcastle, the Australian Capital Territory, and Melbourne.

You can see the Bassendean fossil fuel divestment motion here.

Media contact:
Cam Klose 0490 436 948