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£141m investment in fossil fuels criticised

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fossil fuels

 

 

 

MASS data released this week by Pembrokeshire Friends of the Earth (Oct 30) reveals that Pembrokeshire Council (as part of the Dyfed Council Pension Fund) has £64.8million of public money directly invested through workers pension funds in fossil fuel companies like BP and Shell with a further projected £76.5million in indirect fossil fuel investments.

The research shows that Pembrokeshire County Council has over 8% of its pension fund directly invested in fossil fuels, and money is invested into multinational fossil fuel companies including BP, Shell and BHP Billiton

Eleanor Clegg of Friends of the Earth said: “Many people working for Pembrokeshire Council will be concerned to learn that their future is tied up with such a risky and polluting industry. When governments do act to prevent dangerous climate change, the business model for fossil fuel companies will be over, and that day is fast approaching. And, if oil and gas companies keep on drilling in their final days, it will make climate change far worse – it is the right decision both financially and ethically for Pembrokeshire County Council to divest as soon as possible.”

This is the first time that the £231 billion investments of local government public money have ever been broken down and released publicly, and their exposure to fossil fuels quantified. The data shows that overall the 192 councils in the UK have £14 billion invested in fossil fuels via their pension funds. Three quarters of these direct fossil fuel shareholdings are in only ten companies, headed by BP and Shell.

80% of fossil fuel reserves need to remain in the ground to avoid catastrophic climate change. Consequently, there has been growing concerns about the long-term financial risks of fossil fuel investments. A recent analysis found that California’s public pension funds, CalPERS & CalSTRS, incurred a combined loss of over $5 billion in the last year alone from their holdings in the top 200 fossil fuel companies.

Friends of the Earth said in a statement: “This data offers the residents of Pembrokeshire the information they need to ask why the Council is choosing to invest in risky oil, gas or coal. Instead the Council could reinvest this money into building new homes, clean renewable energy or public transport.”

Eleanor Clegg also told The Herald: “Most fund members and taxpayers won’t be happy to learn that their money is funding climate change. As local residents we’ll be calling on the council to stand on the right side of history and divest from fossil fuels.”

She added: “Oxford and Bristol City Councils have already taken a lead in making fossil free commitments, joining 40 cities internationally and larger institutions like the Norwegian Government Pension Fund. There are 389 institutions globally – including universities, faith groups, health groups and governments – that have committed to divest. Local residents who would like to join the local campaign to convince Pembrokeshire Council to divest from fossil fuels should get in touch.”

A spokesman for Pembrokeshire County Council said in response: “Many commentators from the public and media get confused with the fact that it is the Dyfed Pension Fund and not Carmarthenshire, Pembrokeshire or Ceredigion individually. All investments are on behalf of the Dyfed Pension Fund – not any individual employer. There are approximately 50 employers in the fund.”

The spokesman added: “The Dyfed Pension Fund Statement of Investment Principles (SIP) details the Fund’s ‘Social, Environmental and Ethical Considerations’. Paragraph 5 states: The Pension Panel recognises that social, environmental and ethical considerations are among the factors which investment managers will take into account, where relevant, when selecting investments for purchase, retention or sale. The managers have produced statements setting out their policies. The managers have been delegated by the Panel to act accordingly.

“The Pension Fund is a member of the Local Authority Pension Fund Forum (LAPFF), which is one of the leading voices in corporate governance and responsible investment in the UK.

“Before making investments in fossil fuel companies the investment managers assess a wide range of factors, including, the political stability of the region where its reserves lie, the financial regimes it operates in, the life and quality of its reserves, its operational record, quality of the management, its financial strength, sensitivity to volatile energy prices and its market valuation.

 

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River benefits after polluter pays

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A MAJOR river pollution incident in Mid Wales has cost a company £40,000.

Pencefn Feeds Ltd, near Tregaron has paid the sum after a detailed investigation by Natural Resources Wales (NRW) into the incident in December 2016.

Around 18,000 fish are thought to have been killed on a five-mile stretch of the Teifi when approximately 44,000 gallons of pollutant leaked from an anaerobic digestion plant.

The West Wales Rivers Trust will receive £15,000 to restore fish habitat in the area.

And a further £5,000 will go to the Countryside Alliance Foundation to fund education activities about fish and the local environment for children in the Tregaron area.

The payments are consistent with a potential fine and have been made as an “enforcement undertaking”. This means that the money directly benefits the local environment.

The final £20,000 is being paid to recover all investigation and legal costs relating to the case.
Ann Weedy, Mid Wales operations manager for Natural Resources Wales, said: “This has been a very complex and time-consuming investigation and we are pleased to see the financial penalty being
used directly to repair some of the damage caused by this incident.

“This will make the Teifi a better place for fish and other wildlife by fencing river banks and developing riverside vegetation.

“We hope these payments serve as a reminder to businesses that we will take enforcement action if they pollute Wales’ environment and don’t operate responsibly.”

As well as investigating the incident and overseeing the clean-up operation, NRW also investigated the roles of all companies involved in the incident.

However, the sub-contractor mainly responsible for the incident, Hallmark Power Ltd, went into liquidation so no prosecution could be taken against them. And the main contractor, ComBigaS UK, also no longer exists, so no action could be taken against them either.

ComBigaS Denmark had links to the project but has no legal basis in the UK and is therefore not covered by UK law.

Site owner, Pencefn Feeds Ltd, had raised concerns with the companies about the quality of work, but this had not been acted upon. This would have provided significant mitigation if the matter had gone to court, so NRW concluded that accepting an enforcement undertaking was the best option in this case.

Dr Stephen Marsh-Smith OBE, Director of Afonydd Cymru, the umbrella body that represents Wales’ six Rivers Trusts commented: “This was a tragic case that was bad for the river Teifi and its
fisheries.

“Nonetheless, we commend the use of an Enforcement Undertaking to resolve the regulatory aspect of the case as some funding will now be put towards restoration within the catchment itself.

“The resolution of longer term damage remains a separate issue.”

Rachel Evans, Countryside Alliance Director for Wales, said: “Fishing for Schools is always grateful to receive funding to help us reach out to more young people who benefit from our unique approach to education through angling.

“Funding coming from a pollution incident and resultant settlement whilst sad, will highlight the ever-present need to align conservation and the environment with our school work.

“Tregaron has always been a bedrock of angling within the Welsh community and heritage. We fully intend to enhance and extend that rich legacy by putting this award to good use.”
NRW has been monitoring the Teifi since the incident and confirms there has been minimal effect on invertebrates.

Salmon fry have been found in the affected area, so it is likely that at least some eggs did survive.

However, juvenile and adult salmon were killed. Large numbers of brown trout were also killed, and this species will take some time to recover.

Ann Weedy continued: “The Teifi is one of the most iconic and important recreational and net fisheries in Wales and an internationally important Special Area of Conservation for endangered fish such as lampreys, salmon and bullhead.

“We all need to work together to do all we can to restore the river and reduce the number of pollution incidents damaging our precious environment in Wales.”
NRW has carried out more than 100 pollution prevention visits to farms in Ceredigion and the Teifi catchment in the past year and these have helped reduce the risk of pollution from farm slurry.

It has also inspected the other three anaerobic digestion plants in Ceredigion to ensure that their pollution prevention measures are suitable.
Pencefn Feeds Ltd has now applied for an environmental permit so they can continue to operate (see additional information for more details).

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River benefits after polluter pays

Published

on

A MAJOR river pollution incident in Mid Wales has cost a company £40,000.

Pencefn Feeds Ltd, near Tregaron has paid the sum after a detailed investigation by Natural Resources Wales (NRW) into the incident in December 2016.

Around 18,000 fish are thought to have been killed on a five-mile stretch of the Teifi when approximately 44,000 gallons of pollutant leaked from an anaerobic digestion plant.

The West Wales Rivers Trust will receive £15,000 to restore fish habitat in the area.

And a further £5,000 will go to the Countryside Alliance Foundation to fund education activities about fish and the local environment for children in the Tregaron area.

The payments are consistent with a potential fine and have been made as an “enforcement undertaking”. This means that the money directly benefits the local environment.
The final £20,000 is being paid to recover all investigation and legal costs relating to the case.

Ann Weedy, Mid Wales operations manager for Natural Resources Wales, said: “This has been a very complex and time-consuming investigation and we are pleased to see the financial penalty being used directly to repair some of the damage caused by this incident.

“This will make the Teifi a better place for fish and other wildlife by fencing river banks and developing riverside vegetation.

“We hope these payments serve as a reminder to businesses that we will take enforcement action if they pollute Wales’ environment and don’t operate responsibly.”

As well as investigating the incident and overseeing the clean-up operation, NRW also investigated the roles of all companies involved in the incident.

However, the sub-contractor mainly responsible for the incident, Hallmark Power Ltd, went into liquidation so no prosecution could be taken against them. And the main contractor, ComBigaS UK, also no longer exists, so no action could be taken against them either.

ComBigaS Denmark had links to the project but has no legal basis in the UK and is therefore not covered by UK law.

Site owner, Pencefn Feeds Ltd, had raised concerns with the companies about the quality of work, but this had not been acted upon. This would have provided significant mitigation if the matter had gone to court, so NRW concluded that accepting an enforcement undertaking was the best option in this case.

Dr Stephen Marsh-Smith OBE, Director of Afonydd Cymru, the umbrella body that represents Wales’ six Rivers Trusts commented: “This was a tragic case that was bad for the river Teifi and its fisheries.

“Nonetheless, we commend the use of an Enforcement Undertaking to resolve the regulatory aspect of the case as some funding will now be put towards restoration within the catchment itself.
“The resolution of longer term damage remains a separate issue.”

Rachel Evans, Countryside Alliance Director for Wales, said: “Fishing for Schools is always grateful to receive funding to help us reach out to more young people who benefit from our unique approach to education through angling.

“Funding coming from a pollution incident and resultant settlement whilst sad, will highlight the ever-present need to align conservation and the environment with our school work.

“Tregaron has always been a bedrock of angling within the Welsh community and heritage. We fully intend to enhance and extend that rich legacy by putting this award to good use.”

NRW has been monitoring the Teifi since the incident and confirms there has been minimal effect on invertebrates.

Salmon fry have been found in the affected area, so it is likely that at least some eggs did survive.

However, juvenile and adult salmon were killed. Large numbers of brown trout were also killed, and this species will take some time to recover.

Ann Weedy continued: “The Teifi is one of the most iconic and important recreational and net fisheries in Wales and an internationally important Special Area of Conservation for endangered fish such as lampreys, salmon and bullhead.

“We all need to work together to do all we can to restore the river and reduce the number of pollution incidents damaging our precious environment in Wales.”
NRW has carried out more than 100 pollution prevention visits to farms in Ceredigion and the Teifi catchment in the past year and these have helped reduce the risk of pollution from farm slurry.

It has also inspected the other three anaerobic digestion plants in Ceredigion to ensure that their pollution prevention measures are suitable.

Pencefn Feeds Ltd has now applied for an environmental permit so they can continue to operate (see additional information for more details).

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Ceredigion County Council’s Apprenticeship recruitment campaign is now live

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THE council’s 2019 Apprenticeship programme is now open for applications until Sunday 22 September.

A council apprenticeship gives learners the opportunity to build skills and confidence while earning a salary and gaining a nationally recognised qualification. With roles available in Business Administration, ICT Technical Support and Social Care teams, there is an opportunity for everyone.

The first year of the programme is nearing an end and has been a great success. Alanah Lloyd recently completed a Business Administration Apprenticeship. She said: “I would recommend doing an apprenticeship at Ceredigion County Council to all my friends. I enjoyed the balance of real responsibilities and having the space to keep on learning.”

Maria Lloyd, Alanah’s mother said: “When Alanah was successful with her application I was delighted. It gave her the opportunity to show her work ethic and continue with her education in an organisation where there is career progression. Alanah has now gained a permanent position at the council. I would highly recommend apprenticeships to other parents.”

Lynne Connolly, Apprenticeship and Work Experience Coordinator, Ceredigion County Council said: “This year we are continuing to demonstrate our commitment to ‘grow our own’, offering opportunities for school and college leavers to continue education in a working environment and for members of the community looking to return to work or change career. All our apprentices are paid well above the minimum apprentice wage which reflects how much we value their contribution.”

To apply and find out more visit career.ceredigion.gov.uk or contact us at apprentice@ceredigion.gov.uk.

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