Dundee pensioners calling for public money to stop being used to fund investment in “harmful” fossil fuels.
Dundee Pensioners Forum have written to the city council asking that they reconsider investing Tayside Pension Fund cash in companies working in the extraction of coal, crude oil and natural gas.
Instead, they have asked that the adopt a more ethical and sustainable approach to the investment fund for the policy, which serves public sector workers across the region.
The fund is administered by Dundee City Council on behalf of all three Tayside councils.
It also covers non-uniform police and fire staff, as well as Perth College UHI employees.
In the letter to fund board members, Gordon Samson, chairman of the Pensioners Forum, said: “It is not clear what the pension board’s views are on the risks to the fund from investments in fossil fuels, either in terms of maintaining the fund or the environmental impact on future generations of such investments.
“It is generally recognised that investments in fossil fuels are not only harmful to the environment but put the sustainable future of pensions at risk.
“As a Dundee based community group, we have an interest in how public money is used in the Tayside Pension Fund.
“This includes how the fund invests ethically.”
The Pensioners Forum is the latest group to question in the policy in recent weeks.
The letter for the forum supports a call by Dundee Trades Union Council for a charter for responsible investment and last month Friends of the Earth Tayside urged Tayside Pension Fund bosses to move its investments out of fossil fuels.
Environmental group say now is time for Tayside Pension Fund to ditch fossil fuels
They questioned the “persistent belief” such investments are sound and say switching to renewable energy companies would be beneficial both environmentally and financially.
Mr Samson add the pensioners forum wants clear answers on how much of the pension fund is invested in companies involved in the extraction of fossil fuels and what alternatives are available.
Councillors have agreed to consider the letter and proposed charter.
A spokesman for Dundee City Council said: “The Pension Sub-Committee and Pension Board has agreed to add this item to the agenda for its next meeting.”