Billions invested in fossil fuels by local government pension schemes, analysis reveals

A recent analysis conducted by environmental campaign groups Friends of the Earth and Platform London has uncovered significant investments in the fossil fuels industry by local government pension schemes in the UK. 

According to data obtained through Freedom of Information requests, the analysis covered 75% of assets under management for the Local Government Pension Scheme (LGPS) for the financial year 2021/2022. The findings revealed that at least £12.2 billion was invested in fossil fuels, with £10.4 billion in England, £1.4 billion in Scotland, £227 million in Wales, and £28 million in Northern Ireland.