The global climate crisis is happening now, with extreme weather and rising sea levels threatening the lives of billions of people. Despite this, the Lothian Pension Fund invests over £164 million in the fossil fuel firms most responsible for the climate crisis, including oil companies BP, Eni, Chevron, Shell and Exxon.
This is despite Scotland hosting the UN climate talks, COP26 and Midlothian, West Lothian and East Lothian Councils declaring Climate Emergencies in 2019. The City of Edinburgh Council has also pledged to become a net-zero carbon city by 2030.
Local authorities have the power and the responsibility to ensure local workers not only have a pension for their retirement, but also a future worth retiring into. Halting the extraction and expansion of fossil fuels is a matter of survival for us all. Our local leaders must act now.
City of Edinburgh and Lothian Councillors must ask their pension fund managers to end their support for the companies driving the climate crisis. Instead we can invest our common wealth in ways that generate both social and financial return for local people and their future.
Please email your councillor to call on them to support fossil-free council pension funds.