rich 1.0 Action Network https://actionnetwork.org <link href='https://actionnetwork.org/css/style-embed-v3.css' rel='stylesheet' type='text/css' /><script src='https://actionnetwork.org/widgets/v6/event/un-happy-fossil-free-anniversary?format=js&source=widget'></script><div id='can-event-area-un-happy-fossil-free-anniversary' style='width: 100%'><!-- this div is the target for our HTML insertion --></div> Divest Lothian https://actionnetwork.org/groups/divest-lothian https://can2-prod.s3.amazonaws.com/events/photos/001/481/429/normal/DL_One_year_design_social_media.png Divest Lothian and Global Justice now Scotland invite you to mark one year since City of Edinburgh Council passed a motion calling on the Lothian Pension Fund to to end its investments in fossil fuel companies that are driving the climate crisis and the Un-Happy Fossil Free Anniversary of the LPF's failure to do this. On 24th November 2022, the City of Edinburgh Council passed a motion calling on the Lothian Pension Fund to protect the longer-term interests of its members by removing its investments from fossil fuel companies that are not shifting their business toward renewable energy. This motion followed a similar unanimous vote by East Lothian Council calling on LPF to fully divest from fossil fuels. Despite this, a year later the Lothian Pension Fund has failed to act on these directions. Instead, recent research has shown that holdings in fossil fuel companies have increased to over £260 million in that time. The Lothian Pension Fund is the second largest local government pension scheme in Scotland and administers the pension funds of over 92,000 members from four local authorities in the Lothians. The pension fund also manages the pensions of 90 employers, including Scottish Water, Edinburgh Napier University, VisitScotland and Heriot-Watt University. The Lothian Pension Fund, administered by The City of Edinburgh Council, invests an estimated £229 million in fossil fuel companies which are driving climate breakdown, including BP, Shell, ExxonMobil, Equinor and TotalEnergies. TotalEnergies are the company building the East African Crude Oil Pipeline. A 1444 km oil pipeline that would run from Uganda through Tanzania to the Indian Ocean. If built, it would be the longest heated crude oil pipeline in the world, releasing 34 million metric tons of CO2 annually. Running through critical areas of biodiversity, the pipeline would threaten sensitive ecosystems. The project not only has major implications for the environment but its construction will displace local communities, remove farmers from their land and pose significant risk to Lake Victoria, which 40 million people rely on for their livelihoods. The pipeline will go through East Africa, but the oil will not be for East Africans to use. It will go to the Port of Tanga in Tanzania, to be shipped to the global north for consumption there. Join us outside the City Chambers in Edinburgh to mark one year since City of Edinburgh Council made an historic call for divestment from fossil fuels and the failure of Lothian Pension Fund to act on this. One year of wasted time, climate breakdown, human rights abuses and rising emissions. There will be an anniversary card for people to sign and we will be joined by Jane Lewis from Protest in Harmony who will be there to lead some great climate songs. https://actionnetwork.org/events/un-happy-fossil-free-anniversary