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 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.
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.
The University of Manchester has promised to reconsider its fossil fuel investments, in response to a successful occupation by student activists highlighting the University’s extensive investments in the fossil fuel industry. Pressure applied by environmental campaigners has led to the University of Manchester committing to review its fossil fuel investment portfolio after students staged a […]
On Monday 2nd Sept, Rising Up family group visited the Greater Manchester Pension Fund to give cards that children had made asking them to stop investing £2billion in fossil fuels. Lillia Adetoro, 10-year-old climate activist, read out a poem on the day and is seeking a meeting with the Pension Fund’s chair, Cllr Brenda Warrington, to talk. […]
Guest article from Steady State Manchester: I attended the Greater Manchester Mayor’s Green City Summit on 21 March: here is a quick review. The event was, as you’d expect, a mixed bag, with good and bad aspects. It is too soon to make an assessment but here, from a Viable Economy perspective, are the important […]
Greater Manchester’s local authority pension fund is ‘Fuelling the Fire’ of global climate change by heavily investing in the fossil fuel industry, claims a consortium of environmental campaigners. Describing the GM fund as being “the dirtiest in the UK” due to the £1.8 billion invested in “climate wrecking companies”, which is over 10% of its […]