Peter Lazenby
This is the last article you can read this month
You can read more article this month
You can read more articles this month
Sorry your limit is up for this month
Reset on:
Please help support the Morning Star by subscribing here
CLIMATE activists have picketed a pension fund managers’ conference in Leeds in protest at investment in fossil fuels.
Fossil Free West Yorkshire and Divest UK, who are calling for local government pension funds to pull out of fossil fuel investments, confronted the national gathering of local government pension fund managers on Friday.
The protesters said that one of the main conference sponsors, Federated Hermes, funds a US group that lobbies in favour of fossil fuels.
Robert Noyes of Divest UK said Federated Hermes is using the conference to “market themselves as ‘climate champions’ who can advise UK pension funds about ‘responsible investment’.”
“The truth is very different,” he said.
“A recent investigation by the New York Times has found that Federated Hermes is a ‘gold sponsor’ of anti-climate action, pro-fossil fuel lobbying group the State Financial Officers Foundation (SFOF).
“Federated Hermes gives SFOF money to support the fossil fuel industry that is killing our climate.
“They are not fit to advise our local government funds about ‘responsible investment’.”
Ali Stopher, from the Fossil Free West Yorkshire campaign, said the protesters wanted to make sure that pension fund managers “know about the total hypocrisy of Federated Hermes.”
“They are only interested in their own profits, even if that means actively supporting a group that lobbies against climate action,” he added.
“It’s also disappointing that the conference has just one climate-themed session.
“Fossil fuel investments are not only bad for our climate but also high risk for our pensions.”
