Greater Manchester Pension Fund starts on the path to fossil fuel divestment

15th March 2018

Statement from Fossil Free Greater Manchester in response to Greater ManchesterĀ  Pension Fund’s formal response to our campaign. There isĀ  just one week to go before the Greater Manchester Mayor’s Green Summit that is aiming to achieve carbon neutrality for the city region as early as possible.Ā  We are therefore pleased to report some progress…

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Councillor Kieran Quinn

2nd January 2018

Councillor Kieran Quinn: Statement from Fossil Free Greater Manchester Like others who had known him, we at Fossil Free Greater Manchester were shocked and saddened to hear of Councillor Kieran Quinn’s untimely and sudden death during the Christmas holiday. Along with many civic roles, Cllr Quinn chaired the Greater Manchester Pension Fund and was open…

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Response to GMPF’s consultation on its Investment Strategy Statement

14th November 2017

We have now published our response to the GMPF Investment Strategy Statement. We welcome the acknowledgement that climate change is a material financial risk to the Fund’s investments but we argue that the Fund’s chosen approach for responding to this, engagement with the fossil fuel companies, is inadequate to the task. As engagement specialist NGO…

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Greater Manchester councils investing Ā£1.8 BILLION in climate-wrecking companies

9th November 2017

  National data released today has revealed that Greater Manchesterā€™s local authority pension fund is investing Ā£1.8 billion in the fossil fuel industry [1]. Campaigners say the controversial investments threaten the climate and also represent an unacceptable financial risk to both present and future pensioners. The Greater Manchester Pension Fund is now the dirtiest in…

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5,000 people call for GM Pension Fund to ditch fossil fuels

22nd September 2017

Today we handed in our petition with more than 5,000 signatures calling on GMPF to divest from fossil fuels.Ā  At the end of the Fund’s Annual General Meeting, the Chair, Councillor Kieran Quinn, accepted the petition to which the Fund will respond.Ā  We now look forward to an informed discussion on climate risk and responsible…

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TUC supports fossil fuel divestment of local pensions

14th September 2017

The TUC has voted through a composite motion on climate change transition that includes this clause: vi. investigate the long-term risks for pension funds investing in fossil fuels, promote divestment, and alternative reinvestment in the sustainable economy. It follows on Unison’s motion in favour of campaigning on divestment and was carried unanimously at TUC conference….

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Which companies are worst? GMPF fossil fuel holdings

3rd September 2017

Our new report reviews most of the Greater Manchester Pension Fund’s (GMPF) direct fossil fuel holdings and presents a way of prioritising companies for divestment, based on both their relative climate impacts and the risk of these investments becoming stranded (i.e. losing much of their value in the medium term). We identify nine companies, mostly…

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Campaigners hail UNISON decision as GMPF faces more pressure to ditch fossil fuels

24th June 2017

Fossil Free Greater Manchester (FFGM) today hailed UNISONā€™s decision that local authority pension funds should stop investing in fossil fuels. UNISON members took the decision at their annual conference in Brighton. ā€œUNISON has changed its position in the face of evidence that fossil fuel investments are bad for its membersā€™ pensions and bad for the…

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GM Pension Fund digs a bigger hole for its membersā€™ pension investments

7th May 2017

Greater Manchesterā€™s local authority pension fund has nearly trebled its investments in dirty, risky and increasingly redundant coal stocks. Its latest accounts show the Greater Manchester Pension Fund (GMPF) increased its stakes in mining companies Anglo American and Glencore by 288% and 276% between March 2015 and March 2016. These investments expose Greater Manchester’s local…

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Greater Manchester Mayoral candidates back our divestment call

2nd May 2017

All four of the candidates who attended the environment hustings on Friday evening (28 April) said they would call on GMPF to divest from fossil fuels. The candidates were, in order of speaking on this question: Sean Anstee, Conservative Party Andy Burnham, Labour Party Jane Brophy, Liberal Democrats Will Patterson, Green Party The question asked…

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