Greater Manchester Pension Fund suffers £375m hit to Oil and Gas stocks
8th December 2020Press Release from Fossil Free Greater Manchester Greater Manchester Pension Fund suffers £375m hit as oil and gas investments crash. New analysis reveals that £375m was wiped off the value of the Greater Manchester Pension Fund due to their oil and gas investments losing value over the past three years [1]. Platform London commissioned Transition…
Read moreFact checking GMPF’s arguments against divestment
13th November 2020We welcome the news that all ten of our local councils, along with the GM Combined Authority, have declared a climate emergency. But the Greater Manchester Pension Fund (GMPF), run by Tameside on behalf of all the local authorities and other employers, continues to invest huge sums in polluting fossil fuel companies. GMPF’s largest direct…
Read moreGM Pension Fund’s “Low Carbon Fund”: a drop in the ocean
7th October 2020Post updated, 9 October, 2020. minor corrections, 10 December, 2020 In 2019, the Greater Manchester Pension Fund (GMPF) announced that it was moving some £2.3 Billion of funds to a new “low carbon Fund”. They have also claimed that this is one of the largest divestments from fossil fuels by any UK Pension Fund. Using…
Read moreTameside has yet to give details of the Fund’s “low carbon” investment
9th September 2020Updated post: 10 Sept., 2020 For approximately a year now, the Greater Manchester Pension Fund has been trumpeting its initiative to move some £2.4 Billion of its money from a tracker fund to a “low carbon” fund. It has even claimed that this is the “biggest divestment by any council pension scheme in the UK”…
Read moreWhat if investments, pensions and savings didn’t finance fossil fuels?
17th August 2020Watch this to learn how our savings, pensions and investments are affecting the planet, and what we can do about it. Speakers: Ishaan Dalal, ShareAction Ali Abbas, Fossil Free Greater Manchester Helen Tandy, Partner & Ethical Investment Adviser, Castlefield https://www.crowdcast.io/e/what-if-investments-and
Read moreNew Podcast!
20th July 2020The Manchester Green New Deal podcast talks to Maggie Walker & Ali Abbas about why the GM Pension Fund must stop investing in fossil fuels. Have a listen here: https://www.buzzsprout.com/919177/4539785
Read moreResuming our campaign
7th July 2020Given the huge agenda facing councils at the height of the lockdown and pandemic crisis we suspended our campaigning until the beginning of June. As a matter of courtesy we then wrote to the Chair of the GM Pension Fund, Councillor Brenda Warrington to inform her of that fact and to give her a chance…
Read moreTameside to debate the climate emergency but no sign of any fossil fuel divestment
24th February 2020Tameside council will belatedly debate declaring a climate emergency at its meeting on Tuesday 25 Feb. It will be the last of the Greater Manchester councils to do so. https://tameside.moderngov.co.uk/mgAi.aspx?ID=44691 The proposer, council leader Brenda Warrington, refers to GMPF, pointing out its large investment in renewables. This fails to acknowledge the scale of the far…
Read moreGM Pension Fund, ditch the coal!
12th February 2020In 2019, the Greater Manchester Pension Fund (GMPF) announced that “fighting the climate crisis is one of our highest priorities”. The Fund also announced that it will transfer some of its funds from a tracker fund to a low-carbon fund. [1] Excellent news. Except that, so far, no transfer. The Fund is a bit slow…
Read moreNew briefing for GM councillors on GMPF’s response to call for divestment
1st February 2020Briefing for GM councillors on GMPF response to calls to divest from fossil fuels. Jan 2020 Download as a leaflet in .pdf format Introduction Fossil Free Greater Manchester is a grassroots coalition of organisations and individuals who are working to persuade the Greater Manchester Pension Fund (GMPF) to commit to a speedy and full divestment…
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