Laura Sharman 08 December 2016

Mayor urged to divest council pension funds from fossil fuels industries

Mayor urged to divest council pension funds from fossil fuels industries image

The mayor of London has been urged to divest all council pension funds away from fossil-fuel industries by the London Assembly.

The Assembly has agreed a motion calling on mayor Sadiq Khan to keep to his manifesto promise and set out a deadline for full divestment.

Assembly member Leonie Cooper, who proposed the motion, said: ‘The mayor was elected on a manifesto commitment to take all possible steps to divest the London Pension Fund Authority of its remaining investments in fossil-fuel industries.’

The motion calls on Mr Khan to issue a statement committing to full divestment and set out ‘ a concrete plan for the swift implementation of his manifesto promise’.

Read our feature on what legal and moral considerations should influence the exercise of pension investment decisions.

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