- Conference
- 2025 National Retired Members Conference
- Date
- 13 June 2025
- Decision
- Carried
Most of our RM in are pension schemes like the Local Government Pension Funds(LGPF)
There is a considerable variation in regional LGPFs investments in Fossil fuels for example Lancashire invest only 0.3% whilst Greater Manchester is in the region of 6.0%.
At UNISON National Conference in 2017 a unanimous vote supported the divestment of pension funds from oil, coal, and gas companies.
In January 2018 UNISON produced its guidance for membership considering the new policy – “Local Government Pension Funds – Divest from Carbon Campaign”
Rising global temperatures are already causing extreme weather impacts, including catastrophic floods, forest fires, unprecedented droughts, and hurricanes. Those who suffer the worst have done the least to cause the crisis.
Whilst the current UK government is increasing the production of electricity from sustainable sources it is not taking the urgent action needed to reduce fossil fuel extraction and neglecting basic measures to cut energy demand such as insulating homes.
Energy companies responsible for the climate crisis have received billions in excess profits, and that continuing the UK’s dependence levels of fuel poverty and the recent cost of living crisis.
According to a 2022 analysis conducted by Platform and Friends of the Earth, £16 billion of Local Government Pension Schemes (LGPS) remain tied to investments in the fossil fuel industry. The distribution of these investments varies among schemes. Notably, just 10% of funds oversee over 50% of fossil fuel investments within the LGPS. For example, the Greater Manchester Pension Fund and the West Yorkshire Pension Fund have each committed approximately £1 billion into fossil fuels, standing for 6% and 5.2% of their total fund investments, respectively.
In contrast, a growing number of funds—over 20%—now allocate less than 1% of their pension funds to fossil fuel investments. These figures underscore the stark disparities in local government approaches to aligning their financial strategies with environmental sustainability goals. This divergence highlights the urgent need for more widespread adoption of divestment strategies to effectively confront the climate crisis and build more resilient, sustainable economies.
The security of many of our member’s pensions are threatened because of the continuing high level of investments of some funds in fossil fuel companies and the consequent over-exposure to the stranded assets.
Conference calls on the National Retired Members Committee to:
1) To actively encourage RM branches to establish their Pension Providers level of investment in fossil fuels
2) Encourage RM branches and regions to promote the UNISON Local Government Pension Funds-Divest from Carbon Campaign
3) Raise awareness of the issue amongst Retired Members and the wider Union movement through newsletters and any other appropriate communications
4) Support any RM branch campaigns in support of the UNISON policy
Oldham Local Government RM Branch