Monmouthshire County Council has called for its pension fund to divest £245m in fossil fuel investments. Councillors voted unanimously to make the request to the Greater Gwent Fund, which also handles pensions for Torfaen, Blaenau Gwent, Caerphilly and Newport councils. Figures from by FOE Cymru show about £1bn is invested in fossil fuels by Welsh council pension funds — 6.68% of the total pot.
Reports
Most read in
- IFRS 9 override extended to 2029 for existing investments(37 views)
- Richard Harbord: section 114 was never meant for today’s crisis(24 views)
- After EFS: Worcestershire s151 Phil Rook on the uncertain road to financial resilience(24 views)
- New: LGPS regional investment special report(20 views)
- Westminster borrows £235m over 42 years to acquire temporary accommodation – an ‘innovative’ solution or should government do more?(20 views)
- ‘Golden opportunity to turn ship around’ must not be squandered in Spending Review, say London boroughs(18 views)
- The rise of the senior LGPS officer: how will the new role impact funds?(17 views)
- Room151 LGPS podcast: investing in venture capital climate solutions(16 views)
- The government’s push to merge pools lacks transparency(16 views)
- Conrad Hall: what next for local authority funding?(14 views)
More from
Conrad Hall: a central/local tension is the cause of the financial crisis – not funding
The local government financial crisis has not been caused by a lack of funding: that’s just a symptom of the inherent conflict of having independent local authorities within a highly centralised state, argues Conrad Hall.
(Shutterstock)