Key information
Date: Thursday 31 October 2019
Time: 10:00am
Motion detail
Leonie Cooper AM moved, and Tom Copley AM seconded, the following motion which was agreed by 12 votes in favour, and 0 against:
This Assembly believes that, in the context of the climate emergency, companies and public bodies must take all possible action to transition away from high-carbon industries.
This Assembly also notes and welcomes the Mayor’s actions to divest the London Pension Fund Authority from fossil fuel industries, which have reduced the LPFA’s equivalent holdings to £22.8m or 0.4% of its assets under management (AUM) and increased the ‘green’ investments to £134.8m or 2.25% of AUM.
This Assembly calls on the Mayor to:
1. Assess all potential partner organisations against their commitments to cut carbon emissions from their activities, including whether they directly produce renewable, zero-carbon energy and the percentage of their research and development budgets invested in developing zero-carbon alternatives.
2. Celebrate and prioritise for partnerships companies who are taking their climate responsibilities seriously and are heavily committed to reducing their climate impact.
3. Avoid working with companies that seek to “greenwash” their reputations with small, limited activities while still devoting most of their resources and/or profits to high-carbon activities.