MSPs want their pension fund to end fossil fuel investment

Friends of the Earth, which is backing the campaign, said the fund currently has no ethical policy and invests over £1 million in oil, gas and coal companies.

Lothian Green MSP Alison Johnstone said: “Fossil fuels are fuelling the breakdown of our climate and have no future on a safe planet. As politicians we should be leading the way on the transformation of our economy into one that delivers prosperity without costing lives and destroying our precious environment.

“As MSPs we need to use our pension funds to back this change, and that means divesting from fossil fuels. I hope support for this campaign sends a strong message to the Pension Trustees that now is the time for them to go fossil free.”

Alex-Cole Hamilton, Lib Dem MSP for Edinburgh Western, another member of the group, echoed her comments.

He said: “The climate crisis is leading to rising sea levels, increased spread of disease, and extreme weather, threatening livelihoods around the world - and we cannot wait any longer to tackle it.

“We need strong, committed and cross-party action to move away from high-polluting fossil fuels and invest in renewable alternatives.”

And former Edinburgh Central SNP MSP Marco Biagi, who was Minister for Local Government and Community Empowerment 2014-2016, backed the disinvestment calls.

He said: “Pensions need to be funded through safe, long-term investments but I won’t be collecting mine until a decade after Scotland aims to be carbon neutral.

“We need to get fossil fuels out of the retirement portfolio long before that.

“The industry can’t go on like it is, and, if it does, the consequences for everyone in the world will be dire.

“If we have energy investments they should only be in renewables - it’s both the responsible and the sensible choice.”