Our pension is for the future, not climate destruction
West Midlands Pensions Fund invests an estimated £187 million in dirty fossil fuels which are driving the climate crisis and endangering the very future local people are saving for. Wildfires ravaging the western United States, Bangladesh drowning and Siberia experiencing a 38C heat wave all show the destructive power of fossil fuels to destroy the stable climate system all humans depend on.
Yet despite the ongoing collapse of the fossil fuel industry jeopardising investment returns, and despite the industry continuing to fight climate policy and block the transition, WMPF still refuse to divest, favouring a failed strategy of engaging with the polluters.
Councillor Reynolds suggested in the June Pensions Committee meeting that divestment could happen, but would take a long time. We ask: if not now, when? Only ten years remain to cut global greenhouse gas emissions by half. This requires 7% annual reductions. Instead of funding companies that continue to drill, WMPF should invest in the green revolution and divest from fossil fuels starting now.
Please email your local member or members of the Pensions Committee to show your support for divestment.