Green MSP secures action on ‘green’ pension funds

Alison Johnstone, Green MSP for Lothian, has welcomed comments by Climate Change minister Paul Wheelhouse that he would take up her suggestion of encouraging public sector pension funds to stop investing in fossil fuels.

Alison Johnstone 1The Swedish National Pension Fund is to divest $100 billion worth of assets, while the Global Divest-Invest coalition, including foundations like the Rockefeller Brothers Fund, has pledged to take $50 billion of investment out of fossil fuels.

Alison Johnstone MSP said:

“700,000 people around the world took part in climate marches ahead of last week’s UN Summit in New York. I took part in a rally of thousands in Edinburgh. People know that we are on the cusp of an opportunity.

ScottishGreen logo“We want to see practical action from all nations, and we need the political will which Scotland has already shown with its carbon reduction targets.

“One such action would be on public sector pension funds. They have long term investment horizons and are keenly aware that tackling climate change means we need to move away from fossil fuels. It makes little sense to keep investing in companies at risk of having billions of pounds of ultimately unusable assets.

“I’m glad the minister has listened on this important point and plans to pursue the matter; it could be a significant part of Scotland’s commitment to climate justice.”

 

Pictured is Alison Johnstone MSP

Pixie Energy

Pixie logo Pixie Energy is an incubator and a facilitator of strategic research and project work, focusing on energy regulation, policy and markets at the local and national level. Find out more about Pixie Energy here.

Local Energy Matters: Scotland

Local Energy Matters: Scotland is a free-to-download brochure with a focus on energy tariffs in the two Scottish electricity distribution regions, as well news on local energy and low-carbon schemes.

Previous editions can be download here.

Scottish energy market overview

You can read an overview of the Scottish energy market here.

Scottish Government energy feed