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.