What’s your pension fund funding? While you’re watching your pennies and trying to save energy and money, your pension fund could be exacerbating environment problems, says Greenpeace.
Some pension money is being invested in the companies that are developing ‘tar sands’ – the dirtiest oil available, says the environmental organisation. Extracting the oil requires massive environmental disruption. Forests are clear-cut, the landscape is strip-mined, watercourses and wildlife are poisoned, indigenous peoples are displaced.
And producing tar sands oil means up to three times the carbon emissions of normal oil extraction. BP and Shell are leading the way in this method of oil extraction.
The Greenpeace missive, forwarded from the Teign Estuary Transition Group reads: ‘Because of lax ethical investment criteria, many pension funds are investing our money into BP and Shell. In the next month both BP and Shell have their Annual General Meetings. It’s time to kick up a fuss.
‘We want pension fund managers to vote for a shareholders resolution which challenges BP and Shell over their tar sands investments.
‘You can tell your pension provider to support the resolution. You’ll need to know who your pensions provider is, then go to the Fairpensions website. They’ll help you contact your pension fund manager and ask them to support the resolution.’
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