The Cheshire Pension Fund investment in Fossil Fuels was over £63 million, or 1.04% of the fund valued at £6.1 billion
In February 2021 Divest UK and FOE show investments in “Fossil Fuels” by every local government pension scheme, yet most councils have declared a climate emergency. https://www.divest.org.uk/councils
DIVEST UK analysis for 2019/20 FY year reveals that all LGPS funds invested nearly £10 billion in fossil fuels, or 3% of the total value of their funds. DIVEST UK have prepared a COUNCILLOR BRIEFING
We question how a Cheshire investment of £63million possibly matches the “carbon footprint” AND “climate change strategy”, which CPF have produced only in Autumn 2020. We say CPF must invest to ESG principles for the future while all four major councils within CPF have declared a Climate Emergency.
We say these CPF statements are “greenwash”. We also question why CPF made a new direct investment in Rio Tinto of £3.6million in September 2020 – just as Rio Tinto achieved global condemnation:
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