Strathfield councillor: Mining investments will destroy the planet

A Sydney councillor is attempting to see an inner west council wring its hands dry of any ties to mega mining projects over concerns local government is complicit in destroying the planet

Strathfield councillor Maryanne Duggan, who is putting forward a motion to reduce council’s investments in fossil fuels.

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A Sydney councillor will tonight move to ensure the city’s inner-west cleans its hands of involvement with the fossil fuels industry.

Labor’s Maryanne Duggan will tonight ask Strathfield councillors to vote on whether it should preference to invest in financial institutions that do not fund the fossil fuel industry and major projects like Adani’s mega Carmichael mine in north Queensland.

The move comes just months after neighbouring Inner West Council, headed by Labor mayor Darcy Byrne, passed a motion that would see it boycott companies who also have contracts with Adani.

Labor colleague Darcy Byrne had spoken out against a similar proposal in the inner west. Picture: AAP/Monique Harmer

“The idea of using council procurement to conduct a ­political campaign against a coal mine is absurd,” Cr Byrne told the Daily Telegraph in November.

Ms Duggan, describing her motion as more conservative in comparison to her neighbours’, said should Strathfield preference greener investments there would not be an impact on the money coming into the local government area.

“In every level of government we have a lot of policy issues but actually there is only one issue on our horizon which will destroy the planet,” she said, referring to climate change.

State Labor leader Jodi McKay (right) with Strathfield councillors Karen Pensabene and Maryanne Duggan. Picture: AAP/Matthew Vasilescu

“Given what our community’s expectations are … I think its incumbent on all public officials with our steer of influence to (act).

“What we need to do is satisfy residents that it’s a conservative move that won’t impact our bottom line … we can do this without impacting our bottom line and we have support from our CEO.”

Ms Duggan cited figures that 45 councils across NSW had divested from fossil fuels in one way or another.

City of Ryde council in Sydney’s north-west, was one of the first to adopt a similar policy in 2018.

The council spruiked that the value in its investments in financial institutions had risen 27 per cent in the first six months after it went green.

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