The West of England metro mayor has failed in a bid urging a local government pension fund to stop investing in fossil fuels.
Dan Norris attempted to formally call on the Avon pension fund to cut all investments in fossil fuel companies, at a West of England combined authority (Weca) meeting. But the motion was scuppered as two council leaders were unable to vote.
The £5-billion pension fund is thought to have £86.6 million invested in fossil fuel companies, despite local councils and Weca declaring a ‘climate emergency’ and pledging to work towards net-zero carbon emissions. Mr Norris said this investment should be completely cut by 2030, and said other council leaders elsewhere in the UK “haven’t chickened out”.
