Mayor’s Divestment Pledge ‘100 percent’ Does Not Commit London to Divest from Fossil Fuels

Source: Desmog UK

 

The Mayor of London and the London Pension Fund Authority (LPFA) have agreed a strategy to “divest” assets worth around £10 billion from fossil fuel companies, DeSmog UK can reveal.

The agreement seemingly fulfills Khan’s campaign promise to strip the fund “of its remaining investments in fossil-fuel industries”.

But campaigners have been quick to criticise the announcement, saying the pledge’s small print means it is unlikely to mean funds are actually removed from fossil fuel companies — the core aim of the divestment movement.

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