POWYS County Council (PCC) is being urged to follow other councils and stop investing in fossil fuel companies.

Friends of the Earth Cymru, Future Generations Commissioner for Wales, Sophie Howe and others have published an open letter.

The letter urges local authority pension funds, the new Wales Pension Partnership, the Assembly Member pension scheme and the Welsh Government pension fund to commit to truly ethical investment policies which do not include any fossil fuel firms.

PCC councillors did debate the issue at a full council meeting 18 months ago.

The organisations want to see public bodies take their money out of fossil fuels investments.

They believe this would help support more vulnerable countries where people are already experiencing the front-line impacts of climate change.

Bleddyn Lake of Friends of the Earth Cymru said:  “If you invest money in a business you are supporting them.

“The record temperatures across Europe over the last week are just the latest reminder that climate change is happening here and now.

“The public sector in Wales must stop funding the companies responsible for the climate crisis.

“Divestment – that is taking money away from unethical funds – is a powerful way of showing the fossil fuel industry that we’re taking the climate emergency seriously.

“After all, we can’t fight climate breakdown while funding the very companies driving it.

In Wales so far, Monmouthshire and Cardiff Councils have passed votes to divest their pensions from these companies.

Future Generations Commissioner for Wales, Sophie Howe said:  “Decision-makers in Wales need to be taking immediate action and one strategic commitment they can make to contributing to a globally responsible Wales is by making the right financial decision for the well-being of our future generations.”

A spokesman for PCC said: “We joined the Welsh Pension Partnership in April last year but considered a notice of motion on the subject on January 25, 2018.”

On January 25, 2018, councillors debated a motion on ethical investment put forward by Cllr Emily Durrant, (Llangorse – Green Party).

Her motion was backed by Plaid Cymru group leader – Cllr Elwyn Vaughan (Glantwymyn).

Cllr Durrant’s motion, said: “In April, the Powys Pension Fund will join the Wales Pension Partnership, it is timely then for members to take not only the social, but also the financial risks of climate change seriously.

“Experts agree that the majority of what fossil fuels remain in the ground will have to stay there if we are to avoid catastrophic effects of climate change.”

“Thus, the interests of our pensioners will be served best by forward-looking investments in growing green industries, such as green energy which could be key to Wales’ own economic future.”

“This action would not only support the Well-being of Future Generations Act but also Powys’ own draft Well-being plan.”

On the day the vote was tied 24 each with five abstentions.

PCC’s chairman at the time, Cllr Dai Davies (Independent – Berriew) gave his casting vote against the motion.