Local authorities invest £16bn in fossil fuel companies. In Southwark,we will no longer carry out this Data released on 9 November shows that the UK’s local authorities invest more than £16bn into companies that extract oil, gas and coal. Collectively, and the country’s local government pension funds have nearly £3000 invested in fossil fuels for every pension fund member. Southwark has decided we will no longer carry out this.
In December 2016,Southwark council pension fund made a landmark commitment. Following more than a year of consultation, deliberation and work with community groups we announced a decision to divest the £1.2bn fund from fossil fuels. Continue reading...
Source: guardian.co.uk