BCC Pension Fund has invested a large amount in fracking companies.
11 September 2018
We were horrified to read in the Bucks Herald that BCC Pension Fund has invested £61.5m in fracking companies.
We urge you to write to the Council and tell them what you think about this unenlightened and environmentally unfriendly action. Pension holders are not so selfish that they do not care about any harm they may be causing for future generations by continuing to burn carbon.
A text for your letter might be:
It is disappointing to read that Bucks County Council has invested £61.5m of its pension funds in fracking (shale gas extraction) companies when the pension funds of a growing number of councils, universities and other public bodies are pledging to divest from fossil fuels altogether. The Buckinghamshire Pension Fund Committee may well recognise that ‘environmental, social and corporate governance issues, including climate change, can have materially significant investment implications’ (no mention of ethical considerations), but other councils have managed to evaluate the risks facing fossil fuel companies and find credible alternative investments. Fracking is a particularly environmentally dangerous and damaging form of fossil fuel extraction, and there is no evidence that it will have a significant impact on energy costs in the UK. A responsible County Council would be urging its pension fund to seek sustainable alternatives.