Why have climate activists been calling on the Strathclyde Pension Fund to ‘divest’ from fossil fuels for years? What does ‘divestment’ mean and why is it so important? Why has this call, to date, not been acted upon?
These questions and others are answered by us at Divest Strathclyde in an AGM with a difference; one which gives an alternative direction that could be taken by this huge pension fund if they want to invest in climate solutions instead of climate breakdown. Watch the film of our AGM, above.
We take a look at those polluting companies that the Fund invests in. Polluters who are causing devastation to communities and livelihoods worldwide.
We also hear how the continued investment in fossil fuels is a financially unsound strategy due to the risks of ‘stranded assets’. This is a growing risk and one which threatens pension fund members’ future financial security.
And we hear from some speakers who will give us different perspectives on why divestment is needed – young people wondering what kind of world they are going to inherit; representatives from local government and NGOs who speak on behalf of worker’s rights; and members of indigenous communities who want to maintain their way of life free from environmental destruction.
A growing number of institutions are choosing to divest from fossil fuels. As hosts of the COP26 climate summit next year, Glasgow City Council could show real climate leadership by divesting the Strathclyde Pension Fund from the main drivers behind the climate crisis.