Inner West Council the ‘greenest’ in NSW
Inner West Council is the ‘greenest’ Council in New South Wales when it comes to clean, green investments, Inner West Mayor Darcy Byrne announced today.
Mayor Byrne said he was proud that Council now has the highest percentage of non fossil fuel investments of any Council in NSW – reaching 77 per cent in August 2017.
“I’m delighted that Council has not only met its target to invest in non-fossil fuel funds - it has exceeded it more than seven months ahead of schedule,” Mayor Byrne said.
“This makes us the greenest council in the State, even ahead of green champions like City of Sydney, Tweed and Byron Bay Councils.
“Following pressure from the deposed Councillors serving on the Local Representative Advisory Committee earlier this year, Council endorsed a new Investment Policy which included a target of 70 per cent non-fossil fuel investment portfolio by 30 June 2018.
“The Policy gave preference to non-fossil fuel investments made in a financially responsible way with a view to move towards a 100 per cent non-fossil fuel investment portfolio as soon as possible.
“By August 2017, Council’s holdings in non-fossil fuel investments had increased to approximately $168.7m.
“This is an outstanding achievement that puts our percentage of non-fossil fuel investment as the highest of any local government in NSW.
“It’s important that the inner west punches above its weight in the National environmental debate.
“We intend to remain leaders in divestment renewable energy and carbon reduction.”
At least 30 cities around the world have committed to move investments away from fossil fuels including Seattle, Dunedin and Oxford. Other organisations shifting away from fossil fuel investments include the University of Sydney, the Australian National University, Local Government Super and superannuation fund HESTA.
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