Analysis of the Fund’s 2021 annual report by Fossil Free Greater Manchester shows the Fund increased its holdings of fossil fuel shares between 2019 and 2020, undercutting its claims it has made moves to divest.
Greater Manchester, with over £1bn in stock, has largest pension fund fossil fuel investment in UK
Greater Manchester Pension Fund is the biggest investor by far in fossil fuels of any local government pension scheme in the country. Environmental groups are calling on GMPF to divest from fossil fuels, to help tackle the climate emergency.
Greater Manchester Pension Fund takes £375m hit due to oil and gas investments
Research reveals Greater Manchester Pension Fund’s fossil fuel investments devalued by £375m over the last 3 years, casting doubt on the Fund’s claim that it is merely fulfilling its fiduciary duty to employers and pensioners by investing in gas and oil companies.
HSBC take flak for funding massive overseas coal projects, undermining Paris Agreement on CO2
Highstreet bank HSBC’s activities funding new CO2 emitting fossil fuel projects are under attack by campaigners across Greater Manchester, who are demanding the bank make a “Big Shift” to funding renewable energy Christian Aid’s on-going climate campaign (#BigShift) is now focusing on HSBC because of their continued funding of massive new coal projects in Bangladesh, […]