Stop investing in fossil fuels

Greater Manchester Pension Fund is the UK's largest public pension fund. It has also heavily invested in fossil fuels, with millions invested in the likes of Shell and BP. This has to end.

Councillor Sam Al-Hamdani at the GMPF offices

With over 375,000 members, the Greater Manchester Pension Fund (GMPF) is the largest public pension fund in the UK. It is also a substantial investor in fossil fuel companies, and has repeatedly refused to stop investing in it until its own deadline of 2050. 

Oldham Council has a zero carbon target of 2030, and we believe that it is hypocrisy of the highest order that the Council has this target, but this pension fund, of which it is one of the 10 controllers, is not even attempting to meet that target. 

In early 2023, a Liberal Democrat amendment to a Labour motion committed the Council to support the GMPF stopping investment in fossil fuels by 2030, and to reporting back each year on what efforts it was making to ensure that the companies in which it was investing are stopping spending on fossil fuels. However, we will continue to campaign on this issue until our pensions are no longer being used to fill the coffers of multinational oil companies. 

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