Hundreds of people have signed a petition calling on Hertfordshire County Council to stop investing in companies linked to oil and other fossil fuels.

The petition highlights the millions of pounds invested in fossil fuel industries through the 'Hertfordshire County Council Pension Fund' - calling on the council to divest from these companies within five years.

"By removing investments in these companies Hertfordshire County Council will be showing its commitment to creating a healthy, sustainable future for both the people of Hertfordshire and the planet as a whole," states the petition.

The petition, which was published on the county council website this week, has been signed by more than 900 people.

Its publication comes just days before a report on the issue is due to be presented to the council's resources and performance cabinet panel.

That report shows that the Hertfordshire Local Government Pension Scheme currently has £48m invested in fossil fuel companies, which is around 0.89 per cent of the total portfolio - half of the amount that was invested in fossil fuel companies six months earlier, in December.

The administration of the Hertfordshire Local Government Pension Scheme, say the report, is 'separate' from the county council.

However the county council – which declared a 'climate emergency' last year – is required to administer the fund for the benefit of the members in the scheme.

Analysis based on investments in September 2019 can now, says the report, be used to 'baseline' the fund's carbon footprint and to monitor future changes.

Friends of the Earth said of councils investing in fossil fuels: "It's plain wrong that money we put aside for our future should be used to make that future worse. It's as immoral as investing in pornography or tobacco," adding: "Local government Pension Funds are failing to protect themselves from the financial risk of climate with many still heavily invested in fossil fuel companies.

"UK councils are investing more than £16bn of workers' pensions in fossil fuel companies – the very companies that are driving the climate crisis.

"It's time for our councils to ditch their investments in dirty energy – and you can help make this happen. Please email your local councillors asking them to support the campaign to get your local pension fund out of coal, oil and gas."

The report to the committee comes after a motion was submitted to a meeting of the council, in February, highlighted investments in fossil fuel companies, the 'serious risk' burning fossil fuels posed to the climate and the coucil's declaration of a 'climate emergency'.

That motion – proposed by Liberal Democrat Cllr Chris White – requested that the council's pension committee divested from fossil fuels within three years and actively sought to invest in companies that reduced greenhouse gas emissions and minimise climate change risk.

Meanwhile the petition – submitted by Divest Herts – also suggests that investments in fossil fuels are "risky" and that divesting would minimise the coucil's exposure to the risk of the 'carbon bubble'.

The Hertfordshire Local Government Pension Scheme is said to include more than 300 employers in the county, including district and borough councils, schools, community and voluntary groups. According to the report it has assets in excess of £5bn.