Why my council pension fund is divesting £1.2bn from fossil fuels

Local authorities invest 16bn in fossil fuel companies. In Southwark, we will no longer do this

Data released on 9 November shows that the UK's local authorities invest more than 16bn into companies that extract oil, gas and coal. Collectively, the country's local government pension funds have nearly 3,000 invested in fossil fuels for every pension fund member. Southwark has decided we will no longer do this.

In December 2016, Southwark council pension fund made a landmark commitment. Following more than a year of consultation, deliberation and work with community groups we announced a decision to divest the 1.2bn fund from fossil fuels.