03 November 2021

Councils urged to divest pension funds

Councils urged to divest pension funds image

Campaigners are staging protests across the UK today, calling for councils to divest pension funds from fossil fuels.

The demonstrations have been planned to coincide with COP26, and will include a 70s-themed protest in Glasgow to call on Strathclyde Pension Fund to end its £800m investment in fossil fuels.

A report from Friends of the Earth and campaign group Platform shows councils invest around £10bn in fossil fuels through their pension funds.

The analysis shows that fossil fuels represent 3% of the total value of the Local Government Pension Scheme (LGPS).

Rianna Gargiulo, divestment campaigner at Friends of the Earth, said: 'While the planet burns, the flames are being fanned by local authority pension funds which have billions of pounds invested in climate-wrecking fossil fuels.

'Councils must play their part in protecting the long-term future of their employees by ending their support for gas, coal and oil, and investing in building a cleaner, safer future for us all.'

SIGN UP
For your free daily news bulletin
Highways jobs

Director of Public Health

Royal Borough of Greenwich
Up to £131,210
The Public Health department is at the heart of the council’s business. Greenwich, London (Greater)
Recuriter: Royal Borough of Greenwich

Head of Regeneration and Growth

Plymouth City Council
£68,387 - £74,411 (MFS and relocation available, pay award pending)
This is a unique opportunity to lead our award-winning development team and directly deliver hundreds of millions of pounds of projects. Plymouth, Devon
Recuriter: Plymouth City Council

Director of Adult Social Care

Wiltshire Council
£119,390 - £127,137
Join us as the Director of Adult Social Care and make a real difference to people’s lives. Wiltshire
Recuriter: Wiltshire Council

Assistant Director Planning, Performance & Engagement

East Sussex County Council
up to £97,700
With strong local communities, unspoilt countryside and vibrant coastal towns, East Sussex offers an exceptional quality of life to many. East Sussex
Recuriter: East Sussex County Council

Director of Finance & Commerce

Lancashire County Council
Up to £114,339
You will play a critical role in driving the organisation through complex change and innovation. Lancashire
Recuriter: Lancashire County Council
Linkedin Banner