This is the last article you can read this month
You can read more article this month
You can read more articles this month
Sorry your limit is up for this month
SCOTTISH local authority pensions have more than £1.2 billion invested in fossil fuel companies, green campaigners revealed today.
Friends of the Earth Scotland (FoES) said many councils that have declared a climate emergency have not taken action to end their investments in coal, oil and gas firms.
It said that Strathclyde Pension Fund was the worst offender, with more than £508 million invested in polluting companies such as Shell, BP and Exxon, while the Lothian fund had about £165m invested in fossil fuel firms.
With Glasgow due to host the UN climate conference later this year, activists said there is now a clear deadline for funds to address their fossil fuel investments.
FoES divestment campaigner Ric Lander said: “Local authorities have the power and duty to ensure local workers have a pension for their retirement, but also a future worth retiring into.
“Instead of stubbornly sticking with old systems of investment that worsen climate breakdown, councils should boost investment in renewable energy and social housing.”
Unison Scotland deputy convener Stephen Smellie said the case for divestment is financial, as well as moral and ethical, as the world moves to a low-carbon economy.
You can’t buy a revolution, but you can help the only daily paper in Britain that’s fighting for one by joining the 501 club.
Just £5 a month gives you the opportunity to win one of 17 prizes, from £25 to the £501 jackpot.
By becoming a 501 Club member you are helping the Morning Star cover its printing, distribution and staff costs — help keep our paper thriving by joining!
You can’t buy a revolution, but you can help the only daily paper in Britain that’s fighting for one by become a member of the People’s Printing Press Society.
The Morning Star is a readers’ co-operative, which means you can become an owner of the paper too by buying shares in the society.
Shares are £1 each — though unlike capitalist firms, each shareholder has an equal say. Money from shares contributes directly to keep our paper thriving.
Some union branches have taken out shares of over £500 and individuals over £100.
You can’t buy a revolution, but you can help the only daily paper in Britain that’s fighting for one by donating to the Fighting Fund.
The Morning Star is unique, as a lone socialist voice in a sea of corporate media. We offer a platform for those who would otherwise never be listened to, coverage of stories that would otherwise be buried.
The rich don’t like us, and they don’t advertise with us, so we rely on you, our readers and friends. With a regular donation to our monthly Fighting Fund, we can continue to thumb our noses at the fat cats and tell truth to power.
Donate today and make a regular contribution.