Public Pension Investments Fail to Match Ideals

Those who work in the public sector are being let down by dodgy pension investments, said the director of Scotland’s leading environmental campaign organisation.

Reacting to revelations in the Sunday Herald about public pensions funding tobacco, arms and climate change, Dr Richard Dixon, Director of Friends of the Earth Scotland, said,

“People work in the public sector because they want the world to be a better place, so they will be appalled to find out the scale at which their money is being used to support companies causing climate change, selling tobacco and making weapons.  Whether it is health workers or those working for the environment, in many cases funding these companies directly conflicts with the aims of the organisations offering the pension.  These pension funds control billions of pounds, and this money should be invested to do good not bad.  

“If you have a public-sector pension, it is your money, so start asking questions if you don’t like where it is invested.”

Friends of the Earth is currently recruiting for a Campaigner on Sustainable Finance to work on a 3-year European project, which will look at Scottish pension funds.  

“The financial sector is extremely important to Scotland but little of our strong concern as a country on climate change seems to have rubbed off on what our financiers think is an acceptable investment.  We aim to change that,” said Dr Dixon.

ENDS

Notes to editors

1. Link to Sunday Herald article: http://www.heraldscotland.com/news/home-news/how-public-service-pension-schemes-are-funding-drone-attacks-big-tobacco-and-pollutio.23208622

2. Friends of the Earth Scotland is

* Scotland’s leading environmental campaigning organisation

* An independent Scottish charity with a network of thousands of supporters and active local groups across Scotland

* Part of the largest grassroots environmental network in the world, uniting over 2 million supporters, 77 national member groups, and some 5,000 local activist groups.