Local councils that have declared a climate emergency are continuing to pour money into fossil fuels through their staff pension funds, analysis has shown. Nearly £10bn worth of investments in fossil fuels, including oil and gas companies such as BP and Shell, were found in local government pension funds in the last financial year, according to an assessment by the campaign groups Platform and Friends of the Earth. Councils in Greater.
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THE LOCAL branch of the Scottish Greens is calling on Shetland Islands Council (SIC) to divest from fossil fuels ahead of this yearâs United Nations climate change conference in Glasgow after an investigation found that around £20 million of its £460 million pension fund is invested in fossil fuel companies.
In January last year, Shetland Islands Council, together with 20 other local authorities in Scotland, either ârecognisedâ or âdeclaredâ a climate emergency.
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However, no local authority has far taken any action to end their investments in coal, oil and gas, according to the environmental pressure group Friends of the Earth Scotland.
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