Pensioners, Unison members and other GM residents are raising the alarm outside the GMCA’s monthly meeting. They want the ten GM Council Leaders and GM Mayor Andy Burnham to call on the GM pension fund (GMPF) to take its money out of fossil fuel investments. Brandishing placards and banners, the protesters demand that public money stops funding global heating.
“Every GM Council has a carbon net zero target of 2038 at the latest but the GM pension fund still holds £1bn investments in fossil fuels. We are all painfully aware of the energy crisis and the devastation caused by climate breakdown but the pension fund is backing Shell, BP and other criminals” said Maggie Walker, a Manchester pensioner.
“Every GM Council Leader must call on Tameside Council, who manage the fund, to stop giving public money to the greedy oil and gas giants. The Council Leaders and the Mayor have huge political influence and should be working to bring an end to the Fund’s shameful investments.”
The GM pension fund has the highest investments in fossil fuel companies of any UK local government pension fund. Elsewhere 150+ pension funds including New York, NEST and the Dutch Government Pension Fund ABP have committed to fossil fuel divestment. [1]
Joan Bennett said “As a GMPF pensioner, I’m dismayed that GMPF has actually increased fossil fuel investments, including in coal-mining companies in recent years. Our Council Leaders should call on GMPF to take responsibility for their role in the climate crisis.” [2]
Local group Fossil Free Greater Manchester said, “While people continue to demand climate action, the GM pension fund continues to ignore the climate crisis. Climate justice is not just the responsibility of global leaders — our local Council Leaders need to act fast to move our money out of fossil fuels and into renewables and other sustainable investments.”
