Inner West Council 99% divested from fossil fuels

Tuesday, 12 March 2019

Inner West Council on the brink of being completely divested from fossil fuels, with 99 per cent of its portfolio now invested in non-fossil fuel (NFF) funds.

The next closest local council was Waverley with 76 per cent of its portfolio invested in NFF funds, while Byron Shire Council and the City of Sydney lagged behind on 65 per cent and 45 per cent respectively.

Inner West Mayor Darcy Byrne said the Inner West has long been a leader in the areas of sustainability, renewable energy and climate action.

“Inner West Council is punching above its weight in the national environmental debate,” he said.

“The Prime Minister might walk around with lumps of coal, but our local government is removing every dollar of our funds from fossil fuel investments.

“This milestone shows how serious we are about reducing greenhouse gas emissions from fossil fuels. We will achieve 100% divestment in a matter of days.”

Mayor Byrne said Council is taking huge strides to become a leader in renewable energy at local government level.

“Our aim is to be the laboratory where new climate change and renewable energy policies are developed for Australia,” said Mayor Byrne.

“We recently signed a new power agreement to supply approximately 25% of our power needs from Moree Solar Farm in northern NSW.

“Add in our new program to systematically replace all residential street lighting with efficient LED lighting, and we already have the programs in place to reduce our carbon footprint by a third.

“Council is also making going solar easy by offering a free solar advice service and a new online solar mapping tool to residents and businesses.

“By completely divesting from fossil fuels, becoming carbon neutral and expanding rooftop solar, we can take urban environmentalism to a new level, while reducing electricity costs for ratepayers and businesses,” said Mayor Byrne.

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Page last updated: 17 May 2019