Friends of the Earth campaigners from across Yorkshire called on the West Yorkshire Pension Fund to ditch investments in fossil fuels. This was the message of a demonstration held on the steps of Leeds Civic Hall Saturday 19th March 2016.
The West Yorkshire Pension Fund has over £670m tied up in dirty fossil fuels including investments in BP and Shell.
Friends of the Earth supports Fossil Free West Yorkshire Pension Fund which is calling for the pension fund to divest from fossil fuels and increase investment in lower risk and low carbon projects, ideally renewable energy and energy efficiency.
Research from Carbon Tracker has shown that, in order to meet international commitments to tackling climate change, up to 80% of known fossil fuel reserves need to be kept in the ground, increasing the investment risk of fossil fuels.
Jane Thewlis, from Fossil Free WYPF, said:
“After the Boxing Day floods which brought the impacts of climate change to the doorsteps of so many people in West Yorkshire, the Pension Fund needs to stop financing dirty fossil fuels and invest in clean energy solutions instead.”