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BBC News
By Caleb Spencer
image captionWales has a target of achieving net-zero carbon emissions by 2050
More than half a billion pounds was being invested in fossil fuels by Wales local authority pension funds at the end of 2019-20, new research shows.
But the campaign groups acknowledged there had been a reduction since 2017.
The body representing local authorities in Wales said they were committed to the decarbonisation agenda.
A spokesman for the Welsh Local Government Association (WLGA) said it encouraged the development of ethical investment principles by the Welsh pension funds that ultimately make decisions
And the Wales Pension Partnership said funds were working to reduce their exposure to fossil fuels.