Divestment campaigners protest Strathclyde Pension Funds

Divestment campaigners protest Strathclyde Pension Funds

Palestine solidarity, climate and trade union groups joined a demonstration outside Glasgow City Chambers today to call on the Strathclyde Pension Fund to stop investing an estimated £434 million in fossil fuel companies that are fuelling the climate crisis and the genocide in Palestine.br br They are demanding an end to the fund’s investment in three of the world’s biggest polluters, Shell, TotalEnergies and Italian oil giant, Eni, and to commit to future divestment from arms and technology used in the ongoing genocide.br br Recent research by Oil Change International revealed that all three companies are supplying oil to Israel and are complicit in fuelling the genocide of the Palestinian people.br br According to the latest investment figures from March 2025, Strathclyde Pension Fund invests £41.3 million in Eni, £12.5 million in French oil company TotalEnergies and £11.8 million in Royal Dutch Shell.br br Groups protesting included Unison Scotland, Glasgow Trades Union Council, Time to Divest Glasgow, Friends of the Earth Scotland, Extinction Rebellion Glasgow, Protest in Harmony Glasgow and Divest Strathclyde who gathered ahead of today’s Strathclyde Pension Fund Committee meeting.br br Matthew Jones from Time to Divest Glasgow said,br "It is clear that the genocide in Gaza will be seen as one of history’s great crimes. The International Court of Justice and the International Criminal Court have stated that crimes are taking place, that the occupation of Gaza and the West Bank are illegal and that governments and other bodies including investors must act."br br "Hundreds of legal experts in Britain have similarly demanded action because inaction will put responsible entities in breach of international and British law. It is time to divest from companies involved with Israel and particularly those directly involved in the genocide to protect ourselves and Strathclyde Pension Fund from being complicit in these war crimes."br br The demonstration comes four years after the Glasgow City councillors voted in favour of divesting the Strathclyde Pension Fund from fossil fuels. The fund has still not set a timeline or strategy for ending investments to deliver on this demand.br br Stuart Graham from the Unison Scotland International Committee said,br "In 2021 Strathclyde Pension Fund claimed it was putting fossil fuel companies on notice that, if they don’t take their responsibilities on climate seriously, they would be dropped from the portfolio. Four years on, what progress has been made? The deferred wages of Council and public sector workers are literally fuelling the genocide of the Palestinian people by its investments in Eni, Shell and Total providing Israel with oil to continue its war crimes.


User: The Scotsman

Views: 3.3K

Uploaded: 2025-06-24

Duration: 02:32

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