Written by Zivile Mantrimaite, climate justice campaigner
On August 31, 2015, Strathclyde Pension Fund committee rejected Glasgow City Council’s proposed resolution on fund’s divestment from fossil fuel industries. The feasibility of such act was reviewed and dismissed on grounds of engagement, stating that active engagement with fossil fuel companies will address the subject of climate change in more efficient way. Corresponding to this, Fossil Free Strathclyde campaigners have released Report on Engagement Limitations When Tackling the Systemic Issue of the Fossil Fuel Industry’s Connection to Climate Change: Case Study for Strathclyde Pension Fund, demonstrating that engagement is ineffective as a solution to limit the impacts of climate change and comply with recently internationally agreed climate targets.
We summarize our key findings below and advise the Strathclyde Pension Fund committee to review its engagement strategy and re-consider divestment option in order to truly battle the climate change.