UK councils expose public pensions to £14bn of fossil fuel investment

Local authorities are investing more than 6% of their assets in oil and gas and some investment managers could find themselves on shaky legal ground as the threat of a carbon bubble puts pensions at risk

by Conor McGlone
Three quarters of councils' direct fossil fuel shareholdings are in ten companies (photograph: crstrbrt/123RF)
Three quarters of councils' direct fossil fuel shareholdings are in ten companies (photograph: crstrbrt/123RF)

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