Lothian Pension Fund’s investments in fossil fuels has increased by £64 million – almost 40 per cent – since last year, according to new research by Friends of the Earth Scotland. New data shows that Lothian Pension Fund (LPF) is currently investing in BP, Chevron, Exxon, mining company BHP, and Shell – one of the owners of the Cambo oil field, situated off the coast of Shetland, which campaigners are opposing. LPF’s investments in fossil fuels now amount to £229m, they claim. Ahead of the COP26 climate change event in Glasgow, environmental groups have condemned LPF for “failing to show leadership” by not ending investments in firms allegedly “destroying the planet”.
The Ferret 8th Oct 2021 read more »
Campaigners are urging Boris Johnson to hold the Government’s line on fracking as the UK’s onshore oil and gas industry has called on ministers to look again at shale gas amid the looming energy crisis. It comes amid warnings from trade union leaders that hundreds of thousands of jobs could be lost unless Downing Street takes urgent action to avoid a surge in gas prices next spring. Boris Johnson announced a moratorium on hydraulic fracturing in England in 2019, with drilling already blocked in the rest of the UK, after a scientific report warned it was not possible to predict the magnitude of earthquakes it might trigger.
iNews 8th Oct 2021 read more »
DUNDEE University has completed its divestment from fossil fuels – less than a year after stating its intention to do so. The university has also confirmed that half of its managed investments have been moved to a sustainable investment portfolio, with the remaining half to be transferred before the end of the month.
The National 9th Oct 2021 read more »