Campaigners urge Glasgow to end fossil fuel investments

Climate campaigners urge Glasgow City Council to end its £508 million pound pension investments into fossil fuels.

The protests come ahead of a vote tomorrow (June 2), where Cllrs on the Strathclyde Pension Fund Committee will decide what to do about Glasgow City Council’s decision to back divestment of the pension fund’s £508m pound investment in fossil fuel companies, including Shell, BP, Chevron and Exxon.

The Strathclyde Pension Fund is the joint largest local government fund in the UK worth an estimated £24bn.

The motion to be considered tomorrow would if passed, mark the first time the Fund endorsed divestment as an option for dealing with polluting companies, potentially paving the way for a world-leading divestment policy to be approved later this year.

In Glasgow, local activists gathered outside the City Chambers for a small physically-distanced banner protest and to hand over an open letter to the Pension Fund Committee calling on them to show climate leadership by divesting from fossil fuels.

Activists from across the UK are posting images on social media of themselves holding placards with slogans including #DivestStrathclydePensionFund, #ClimateJustice and #PlanToDivest.

Chris Nicholson, a member of the Strathclyde Pension Fund and activist in Divest Strathclyde, said: ‘This vote is a chance for Glasgow to make history. The political will from Glasgow’s councillors and the public support are already there for Strathclyde Pension Fund to end investments in the fossil fuel companies that are most responsible for the climate crisis.

‘As Glasgow prepares to host the UN climate talks, this is a vital opportunity for the city to show climate leadership and to stand in solidarity with communities around the world who are already suffering the worst impacts of climate breakdown. Retaining the status quo is no longer enough as the climate crisis is getting worse every day; nothing but bold action will suffice.’

Photo Credit – Supplied