Labour Council bosses refuse Lib Dem plan to end support for the fossil fuel industry through Merton’s pension fund
Labour Council bosses have refused to end financial support to the fossil fuel industry through the Council's pension fund.
Merton Council’s pension fund is one of several local authority pension funds that invest a combined £10 billion in coal, oil and gas industries.
Burning fossil fuels contributes significantly to global warming. It is environmentally irresponsible that our Council continues to invest in them through its pension fund.
At full council held on 17th November, Labour and the Conservatives refused to support a Liberal Democrat plan to dispose of shares in coal companies held by the Council's pension fund. A similar proposal was also rejected in September.
We're shocked at this lack of leadership shown in Merton on the Climate EMERGENCY.
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