The Cheshire Pension Fund investment in Fossil Fuels was over £63 million, or 1.04% of the fund valued at £6.1 billion
A national report published in February 2021 by Divest UK and FOE shows the continuing scale of investments in “Fossil Fuels” by every UK LGPS (local government pension scheme) funds, 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.
- We question how this Cheshire investment of £63million possibly matches the “carbon footprint” and “climate change strategy”, CPF have only just produced in Autumn 2020……..
- February 2021 Divesting from Fossil Fuels
- We say CPF must start ESG Investing for the future- see these explainers
- All four major councils in CPF have declared a Climate Emergency
- We say these CPF statements are “greenwash”
- We questioned the CPF new direct investment in Rio Tinto of £3.6million made in September 2020 – as Rio Tinto achieved global condemnation: