I was deeply disappointed to hear that the board of Local Government Super had decided to remove a ban on investing in nuclear energy. At this month’s Council meeting I am calling on Council to oppose this move and to lobby the LGS board and the board of Local Government NSW to reverse this decision. The ban on nuclear investment has been in place for 15 years. Although I support a move away from carbon exposed industries, nuclear power is a dangerous distraction from our transition to renewable energy sources. It is critical that we continue to support the renewable energy sector in order to drive future innovation. With the destruction of our effective carbon tax and the potential loss of the Renewable Energy Target it is more important than ever that we invest in this sector.
The City of Sydney’s own investment policy mandates that Council only invest in areas that are considered ‘socially and environmentally responsible’. In the policy explicitly names nuclear energy as an environmentally harmful activity. I know other Councils, as declared Nuclear Free Zones, in NSW may also be concerned about this move.
It seems misdirected to be investing workers’ money in nuclear energy at a time when the radioactivity from Fukishima is irradiating fish found of the west coast of America. I sincerely hope they will reconsider this move.