Scoop has an Ethical Paywall
Dunedin Divests
Oil Free Otago Press Release 29 April 2015
Dunedin Divests
A proud day for Dunedin; a win for the planet – and for the ratepayers
Oil Free Otago is proud the Dunedin City Council has voted to divest from fossil fuel extraction, along with tobacco, arms, gambling and pornography, in their Waipori Fund.
“This is a proud day for our city” said Oil Free Otago spokesperson Annabeth Cohen. “Our councillors have made a sound ethical and economic decision. Cities, universities and organisations worldwide are divesting from fossil fuel extraction companies because they are stranded assets. There are more fossil fuels in known reserves than we can afford to burn. In financial terms, as climate change increases and hard-to-reach fuel reserves become more costly to extract, fossil fuels will become high risk investments that will likely earn poor returns.”
"Today’s decision by the DCC shows long term thinking and makes us proud. It’s a win for the planet and a win for ratepayers. Thanks DCC!”
ENDS
Gordon Campbell: On bird flu, AUKUS entry fees and Cindy Lee
Labour Party: Penny Drops – But What About Seymour And Peters?
Government: PM Announces Changes To Portfolios
Family First: Just 1 In 6 Oppose ‘Three Strikes’ - Poll
Labour Party: Budget Blunder Shows Nicola Willis Could Cut Recovery Funding 
Government: Urgent Changes To System Through First RMA Amendment Bill
Peace Movement Aotearoa: Global Military Spending Increase Threatens Humanity And The Planet
