UK. MSP pension fund under fire for investing almost £1m in fossil fuels
Analysis of the Scottish Parliamentary Pension Scheme by Friends of the Earth Scotland based on a freedom of information request shows that the estimated fossil fuel investment is £923,585 – around £7,160 for each of the 129 MSPs.
With Glasgow due to host the Cop26 UN climate conference later this year environmental campaigners are calling on local authorities to divest from fossil fuels.
The Scottish Parliament’s pension fund was found to have an estimated £733,000 stake in BHP, a major coal, oil and gas producer.
BHP is one of three international mining giants being investigated over alleged “serious human rights abuses” and “devastating environmental pollution” at the Cerrejón mine in Colombia – one of the largest open-pit mines in the world.
The investigation was launched in January by the Organisation for Economic Co-operation and Development (OECD) – an intergovernmental economic organisation with 37 member countries – after complaints were filed simultaneously in Australia, Ireland, Switzerland and the UK by the Global Legal Action Network (GLAN).
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