UK Councils:

Fuelling the Fire

New data has revealed that councils across the UK are investing more than £16 billion in the fossil fuel industry – the companies responsible for the climate crisis.

It’s time for our local councils to stop #fuellingthefire and divest.

Wildfires in Portugal

Press

Press enquiries contact: Anna Galkina / Platform / 07942044472 / anna@platformlondon.org

Download full briefing including comparison tables and methodology overview.

  • Councils invest £16.1 billion of pensions into fossil fuel companies out of a total of £289.9 billion, new data reveals
  • No significant change on 2015 investments, despite pressure to take climate risk into account
  • Greater Manchester, Dumfries and Galloway, Torfaen, and Hammersmith and Fulham authorities are among the most exposed to fossil fuel investments

Jane Thewlis, West Yorkshire Pension Fund member and divestment campaigner, said:

“Our pensions are investing in the companies responsible for the climate crisis. This flies in the face of the Paris Agreement, and of all the efforts being made locally to reduce emissions and combat climate change. It’s time to divest.”

George Guivalu Nacewa, Fiji Climate Warrior attending the COP23 talks in Bonn, said:

“In the Pacific, the impacts of climate change are not a debate, it is our reality. We need to keep fossil fuels in the ground. We no longer have time to talk. Now is the time to act.”

Friends of the Earth divestment campaigner Deirdre Duff said:

“It’s astonishing that councils across the UK are continuing to invest vast sums of money in climate-wrecking fossil fuels through their pension funds. With urgent action needed to tackle the climate change crisis our local authorities should be doing far more on this issue.

“Council pension funds should pull their cash out of coal, gas and oil and invest in the new technologies that are already helping to build a cleaner, safer future.”

Platform campaigner Sarah Shoraka said:

“Local councils are gambling with our future. By continuing to heavily invest in companies like BP and Shell, local authorities are risking the future of our pensions and our climate.

“Council pension funds have an opportunity to invest instead in things communities really need: affordable housing, public transport, and publicly owned renewable energy. Councils must divest to secure pensions and invest in our future.”

Ellen Gibson, Divestment Campaigner with 350.org, said:

“With hurricanes devastating the Caribbean, wildfires ravaging southern Europe and flooding and drought destroying lives across the world – the impacts of climate change are hitting hard. Despite this, UK councils are still plowing billions into companies like Exxon, Shell and BP who have spent decades fuelling the crisis, and profiting on its back.

“Climate change isn’t a problem for future generations – it’s happening now, and action has never been more urgent. Our councils, and all public institutions, must cut their ties with the fossil fuel companies responsible and divest.”

Ric Lander, Friends of the Earth Scotland Divestment Campaigner, said:

“Scotland’s councils are ignoring the realities of climate change. Their investments in deeply destructive fossil fuel companies fly in the face of Scotland’s wider efforts to phase out fossil fuel cars and ban fracking.

“Fossil fuel companies won’t be talked into dropping their core business of digging oil, gas and coal out of the ground. Councillors who oversee these funds need to take action to make their pension funds compatible with a future worth living in by divesting.”

Stephen Smellie, Deputy Convenor in UNISON Scotland and National Executive Committee member for UNISON, says:

Our priority always needs to be to ensure our member’s pensions are protected. We are increasingly aware that investments in fossil fuels are not only harmful to the environment but put the sustainable future of our pensions at risk.

“We have made progress with a few pension funds taking the steps towards divestment. We need to wake the rest up before our pensions are put at risk with investments that will lose value as governments take steps to reduce the use of fossil fuels.”

Coverage:

Press Releases

June 19, 2018

Campaigners condemn BP sponsorship of Iraq exhibition at British Museum

Press release by BP or not BP?

LONDON — Theatrical action group BP or not BP? have released the following statement in response to the British Museum’s announcement this morning that a major upcoming exhibition featuring objects from modern-day Iraq will be sponsored by the oil company BP. The announced exhibition –  I am Ashurbanipal: king of the world, king of Assyria – will open in November 2018 [1].

In 2002, before the last Iraq war, a government memo revealed that BP was ‘desperate to get into Iraq’ [2]. Now campaigners believe BP is shamelessly profiting from Iraq’s fascinating history as well as its oil.

A spokesperson for BP or not BP? said:

“We are horrified to see a BP logo attached to an exhibition of objects from Iraq. Given the company’s history of supporting and profiting from war in the region, why is the British Museum allowing BP to gain credibility and positive profile from association with the history and culture of Iraq? This will not go unchallenged – visitors will see through BP’s cynical branding of the exhibition and the museum should expect significant protests over this.”

BP or not BP? have staged fifty protest performances at oil-sponsored cultural institutions since 2012, including more than thirty at the British Museum [3].

ENDS

Notes for editors

[1] britishmuseum.org/whats_on/exhibitions/ashurbanipal.aspx
[2] independent.co.uk/news/uk/politics/secret-memos-expose-link-between-oil-firms-and-invasion-of-iraq-2269610.html
[3] bp-or-not-bp.org/performances-and-films/

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