The global divestment movement - calling for investors to pull out of fossil fuels - has had some a few high profile successes so far but the movement needs support.
Labour should actively support campaigners looking to lobby investors to divest from fossil fuels as well as other things such as tobacco and instead invest in ethical investment funds. Further than that it should make it policy that we would pass a Divestment Act which would force all local authority funds to divest from fossil fuels and tobacco industries if were to return to power in 2020.
We can also lead by example in the local authorities we already hold power, divesting from all direct and indirect investments in fossil fuels and tobacco and instead shifting to ethical investment funds or investing in local infrastructure funds and social impact bonds instead.
Divesting all UK local authority pension funds in this way would be a significant blow to the fossil fuels industries, it would send a strong message to private investors and would free up large volumes of cash for the renewables industry and other ethical investments.