Local governments in the UK have pension funds worth over £230 billion. £14 billion of this – over 6% – is invested into fossil fuel corporations. In order for us to prevent a climate tragedy, we need to keep 80% of the worlds non-renewable energy sources (oil, gas and coal) in the ground (source).
Strathclyde Pension Fund has £752 million invested in fossil fuels, which makes it the second largest fossil fuel investor of all pension funds in the UK. The money goes to companies such as Shell and BP.
We are a group based in Glasgow, campaigning for Strathclyde Pension Fund to divest (remove its investments) from the fossil fuel industry. Instead, we call for an ethical investment, which would help local economies and in the long term generate higher return than fossil fuels.