We’ve spent months investigating just how much our local governments are supporting fossil fuels through their pension schemes, and today it’s time for the big reveal…
Here’s what we found: UK councils are investing a massive £14 billion of workers’ pensions in companies causing dangerous climate change!
That’s £281 for every UK resident, and £3,000 per public sector pension-holder. It would also be enough to build over 200,000 new homes, or produce enough renewable energy to power Scotland.
Today’s data is the first ever attempt to uncover the full extent of our councils’ investments in fossil fuels. As well as the UK-wide total, we’ve worked the local figures out too.
So how much does your council invest in fossil fuels? Find out on our new map.
In the run up to the climate talks in Paris this winter – and with commitments from world leaders not yet adding up – it’s more important than ever that we use our power to call for meaningful action on the climate crisis, and for divestment across the UK.
Our councils have a responsibility to act on climate change and help protect the futures of their workers and local residents. By committing to divest from fossil fuels, they could take a stand for climate action and re-invest the funds in positive solutions. They would join over 400 institutions and 2000 individuals with an asset base of $2.6 trillion who are already divesting across the world.
There are groups across the country working to get divestment commitments from their councils, with twelve new local campaigns launching this week alone.
Please share the map and help keep building the pressure on councils across the UK to #DivestPensions.
Thank you for your support,
Ellen and Danni, the Fossil Free UK team