Cr Emmerick Teissl has lodged a notice of motion ahead of Tuesday’s meeting calling on the council to divest any assets which support the fossil fuel industry through the “big four” banks.

He said it was not acceptable to vocally fight coal seam gas mining, then continue to invest money in the same industry.

“Indigo Shire Council has a proud history of advocating against fossil fuel industries within its boundaries,” he said.

“Whilst advocacy is welcomed, I believe that we need to go the next step and prevent this from happening in other shires throughout Australia.”

The move comes after Albury Council announced in October 2015 it would shift investments away from fossil fuels and Wodonga Council followed in March.

La Trobe University also announced this week it would divest its investments from the top 200 fossil fuel companies over the next five years.

The Indigo Environment Advisory Committee had recommended the council make the same move.

Cr Teissl asked council officers to prepare a report outlining how such the transition would be implemented from the 2017-18 financial year.

He questioned the message the council was sending by supporting banks which invested in fossil fuels.

“How and where we invest our financial assets, and with whom we conduct our daily financial transactions, directly impacts on not only our communities, but others throughout our country and globally,” Cr Teissl said.

“Indigo Shire Council regularly spends tens of thousands of dollars advocating for its communities in VCAT against similar issues, the most recent the mining of water in Stanley.”

Bendigo and Hume banks, which had branches within shire boundaries, were suggested as new options for Indigo’s investments.

The notice of motion will be heard at the Indigo Council meeting, held at council chambers in Beechworth from 6pm Tuesday.