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Shoalhaven News

Councillor Guile slams divestment campaign

Shoalhaven council by Andrew Page

Shoalhaven Councillor Andrew Guile has slammed a Divestment Campaign launched at this weeks council meeting saying it will hurt council finances.

The Divestment campaign aims for the council to divest itself from financial institutions that invest in or finance the fossil fuel industry.

Councillor Guile says he doesn't have a problem with people making their own ethical choices on how they spend their money, but when the council is handling other people's money, he says it's becomes a different issue.

"Over time reliance on fossil fuels is going to reduce," Councillor Guile said.

"Professional investment managers are writing that risk already and they're the best once to make those decisions, not a bunch of Green Councillors sitting around a table in Shoalhaven City Council," he said.

Photo credit: Andrew Page - Grant Broadcasters