CAMPAIGNERS have criticised a council over claims it is not acting in accordance with its statutory declaration of a climate emergency.

A day of action will be staged by Bangor Extinction Rebellion over the use of gas power plants in the county and the local authority's use of a pension fund that includes fossil fuel companies.

Campaigners raised concern that since declaring a climate emergency in March 2019, the council’s planning department granted permission for small gas-fuelled power plants in Bangor with another awaiting decision in Porthmadog.

They have also taken aim at the Gwynedd Pension Fund, which invests £51million of pensions for Gwynedd, Ynys Môn and Conwy council employees, North Wales Police, Cartrefi Conwy, Cartrefi Cymunedol Gwynedd, Snowdonia National Park Authority and 36 other employers across north west Wales.

Gwynedd Pension Fund said “significant steps have already been taken” to reduce the carbon footprint of its investment portfolio.

Alison Shaw, a retired science teacher in Conwy, said: “The evidence that we’re heading towards climate chaos is irrefutable, Gwynedd Council declared a climate emergency in 2019, but it carries on with business as usual, continuing to support and invest in fossil fuels, when renewables could be being encouraged.

“Battery storage for wind, solar and hydro energy is really good these days, and that’s the future. It’s time for Gwynedd to get up to speed and fulfil on its promises: Divest from fossil fuels and stop building Gas Power Plants.

“Our pensions are pouring fuel onto the climate wildfires and it’s up to Gwynedd County Council to invest our money in ethical ventures, such as renewable energy and social housing.

“What’s more, switching to ethical investments gives better returns in the long run and are less risky. Fossil fuels will soon be stranded assets because we can’t afford to burn them anymore. If pension funds don’t divest, they will lose money.”

The latest Intergovernmental Panel on Climate Change (IPCC) report by the United Nations gave a “code red” for humanity. Greenhouse gas emissions from fossil fuel burning and deforestation are choking our planet and putting billions of people at immediate risk.

Helen Mcgreary, 46, a dance teacher in Bangor, said: “This report must sound a death knell for coal and fossil fuels, before they destroy our planet”.

The event, which takes place at the Maes on bank Holiday Monday, is part of a national fortnight of action on the climate crisis, with events in London and across the country.

XR Bangor will set up an information stall, a climate change exhibition, and a petition calling on Gwynedd Council to divest its pensions and encourage renewable energy plants.

Abbie Beath, an environmentalist from Menai Bridge, said “The Covid crisis shows that we can act fast in an emergency - it’s now time to treat the climate crisis like the emergency it is! When the train of the Climate Catastrophe hits us it will be too late.

“Flooding in Gwynedd has always happened, but the frequency and severity is in almost no doubt linked to Climate Change.

“Flood defences have their place but are only a temporary measure - the time for action instead of promises and declarations is long overdue.”

In July, a demonstration was held in Caernarfon by members of Divest Gwynedd, which says that over £50m is currently invested in fossil fuels while urging “decisive action and a published timetable for divestment.”

Controlling money put away by public sector workers for their retirement, the fund supports low carbon initiatives through its direct investment portfolio but also retains large holdings in fossil fuel industries.

After Gwynedd Council declared a climate emergency in 2019, a decision was made to transfer 12 per cent of the pension fund into low-carbon investments via the BlackRock World Low Carbon equity fund.

This particular fund seeks to invest in green infrastructure projects, such as renewable energy, alternative fuels and clean technology, looking to optimise returns as well as “delivering positive environmental outcomes”.

But according to campaigners, while there has been a reduction over recent years, more action is needed.

A Gwynedd Council spokesperson said: “The council has identified climate change as one of its key priorities in its corporate plan that was reviewed in 2020/21 and whilst the pandemic has delayed matters, work has commenced which will feed into a climate change action plan, as a follow up to the climate change emergency declaration in 2019.”

A Gwynedd Pension Fund spokesperson said: “The Gwynedd Pension Fund plan appropriately, take real action, and influence in many ways for the benefit of our environment. Decisions to invest or not in a particular company or type of asset will be based on the ability to generate sustainable long term returns for the fund, and this will be influenced by the approach a company takes to climate change.

“Gwynedd’s Pensions Committee are aware of the potential risks and are seeking to ensure that the Fund is invested in companies which are diversifying their businesses towards renewable sources of energy, so that they are less exposed to oil and gas in future. e.g.in the Wales Pension Partnership’s Global Opportunities decarbonisation strategy, the Fund already excludes thermal coal producers based on stranded asset risk.

“As active long-term asset owners Gwynedd Pension Fund believes that engagement is more effective tool divestment, and we regularly challenge our asset managers on their progress on environmental, social and governance issues. Divestment from fossil fuels needs to be considered in the round as part of an overall strategy to reduce carbon emissions across all sectors.

“As an individual pension fund and nationally as part of the Wales Pension Partnership (WPP) we have a common goal of investing locally, and nationally in Wales in renewable projects. We are considering investing in renewable and community projects across Wales, subject to satisfactory due diligence.

“Significant steps have already been taken by the Fund to reduce carbon emissions.”

This includes the Black Rock low carbon fund (12 per cent of Gwynedd fund) which screens fossil fuels before low carbon optimisation; WPP Global Growth Fund (17 per cent of Gwynedd fund) includes Baillie Gifford’s Paris aligned fund which disinvests from fossil fuel extractors and fossil fuel service providers, and Pzena who sold their holding in a company which contributed to 35 per cent of carbon emissions of this particular fund; WPP Global Opportunities Fund (17 per cent of Gwynedd fund) has implemented a 'decarbonisation overlay' by Russell Investments which reduces the carbon footprint by 25 per cent.

The spokesperson added: “Russell Investments (WPP’s Investment Management Solutions Provider) and other partners of Gwynedd Pension Fund have declared that they want to achieve a standard of net- zero carbon emissions in their investment portfolios globally by 2050, and we are working closely with them to achieve this goal.”