GREENS leader Natalie Bennett has visited Durham City to call on its council, cathedral and university to pull its money out of fossil fuels.

Ms Bennett said Durham had a real opportunity to completely “divest” from organisations that profit from the exploitation of fossil fuels.

After addressing a meeting at Alington House Community Centre, she signed letters calling on Durham County Council, Durham Cathedral and Durham University to transfer their pension fund investments and provide democratic, spiritual and intellectual leadership on climate change.

“The whole of Durham could be divesting. This could be a community that takes a big step to divesting from fossil fuels and getting out of this industry that we cannot afford to continue,” she said.

The Greens say a Freedom of Information (FOI) request found the council had £128m, six per cent of its pension fund, invested with organisations that profit from fossil fuel exploitation.

On the university, Ms Bennett said students had been lobbying for some time but while it had “got the message” it had not acted.

Turning to the cathedral, she said it should follow the lead of the Archbishop of Canterbury and the Pope in making tackling climate change a priority.

In response, Councillor Andy Turner, chairman of Durham County Council’s pension fund committee, said it had a financial responsibility to obtain the best possible returns on investments but investment managers were also required to consider the practices of companies.

Philip Davies, Durham Cathedral’s Chapter Clerk, said its investment portfolio followed the Church of England’s ethical investment policy, excluding, for example, companies associated with armaments, alcohol and pornography.

On fossil fuels, he said: “The issue of investment in companies linked to fossil fuels is currently under debate at a national level by the General Synod of the Church of England and Durham Cathedral is in the process of consulting with its investment advisers regarding the matter.”

A Durham University spokeswoman said it was committed to reducing its environmental impact and would review its direct investment in fossil fuel companies but had no plans to withdraw from engaging in research financed by the energy industry.

“We will continue to engage with the fossil fuel and other industries in carrying out research on feasible alternatives and sustainable geo-energy resources such as geothermal and carbon-capture storage,” she added.

As of December 31, the Teesside Pension Fund had £160.6m invested in oil, gas and coal extraction companies – 5.2 per cent of the total fund. A spokesman said its policy was not to screen investments on social, ethical or environmental grounds but it did actively engage with companies to ensure good governance.