Sunday, 15 June 2008

CLEANING UP KCC INVESTMENTS

KENT PRESS RELEASE – FOR IMMEDIATE RELEASE – Sunday 15th June 2008 – 60 Boxley Road, Maidstone, Kent ME14 2TW - www.kentgreenparty.org 0797 0436 029

CLEANING UP KCC INVESTMENTS

Kent Green Party is concerned that Kent County Council does not have an ethical investment policy (1). It continues to have massive share holdings in arms selling, tobacco and oil production (2). Kent Green Party is maintaining a petition on line until KCC cleans up its act, which can be found at: http://maidstone.greenparty.org.uk/kccinvestment.php

Ben Watson, of Fair Pensions, addressed a Kent Green Party meeting in Wye on 14th June. He said:

“There is no reason why environmental, social and corporate governance concerns should not be paramount in the practice of responsible investment. Ethical investment is showing the same or better returns on investment in relation to unethical investments. Forcing companies to disclose their carbon emissions and take action to reduce them is a very important part of the fight against climate change.”

Stuart Jeffery, Campaigns Officer for Kent Green Party adds:
“Whether we are concerned about human rights, or health, or climate change, responsible investment can help build a more ethical and sustainable mixed economy. KCC’s pension funds are a key place to start and our County Council has no excuses for supporting arms sales to dictatorships, propping up tobacco companies or supporting oil companies which contribute significantly to climate change. Kent Green Party will continue to campaign on this issue until KCC investments are cleaned up.”
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FURTHER INFORMATION: Stuart Jeffery on 0797 0436 029. Contact address as above.
Notes:
1. Kent Green Party has been campaigning on this issue recently. See for example: http://kentgreenparty.blogspot.com/search/label/investments
2. As at 31 Mar 07, KCC share holdings included £13.9 million in BAE Systems , the UK's biggest arms manufacturer and the 4th largest arms manufacturer in the world, £14 million in tobacco and £91.8 million in oil, according the Acting Director of Finance at KCC, Nick Vickers.

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