Council commits to cut pension investment in fossil fuels long-term

14 December 2016

Last night (13 December) at a cabinet meeting, Southwark Council announced a commitment to cut pension investment in fossil fuels long term.

Councillor Fiona Colley, cabinet member for finance, modernisation and performance, said, “The commitment to cut pension investment in fossil fuels long-term, agreed last night at cabinet, is a measured and carefully considered decision based not only on ethical practice and the council’s continued drive to reduce exposure to fossil fuel, but also on reducing the financial risk of investing in traditional energy sources, which will ultimately become obsolete.

“The council will explore new opportunities to invest in the development of sustainable energy infrastructure alongside other local authorities, through the London CIV. We are a long term investor, aiming to deliver a truly sustainable pension fund.”

Page last updated: 14 December 2016