Devon County Council are among those in the UK that have invested £9 billion of their workers’ pensions into companies that frack, despite some fierce local opposition.
Peter Scott, from Frack Free Totnes, said:
It’s shocking to see that Devon County Council are directly investing public money into the global fracking industry. Fracking threatens communities, destroys local landscapes, and fuels climate change across the globe. As this industry tries to get a foothold in the UK, it's crucial that our councils take a clear stand against fracking and divest from the companies responsible.
A DCC spokesman commented:
The Committee's primary duty is to seek to obtain the best financial return for its members, but the Committee does consider environmental and social issues in all of its investment decisions.
Friends of the Earth warned:
UK councils should know better than to invest in fracking companies. These companies are inflicting their fracking operations on communities around the world, and this can have significant impacts. Many UK councils have rightly opposed fracking in their own area – however it is shocking that they still support the global fracking industry. We should remember too that the climate change caused by fracking will affect us all, no matter where the fracking is conducted.
