Experiments with Truth: News

London assembly members vote to divest £4.8bn pension fund

Boris Johnson has been told by the London assembly to pull City Hall’s £4.8bn pension fund out of coal, oil and gas investments, after assembly members voted on Wednesday on a motion in support of the fossil fuel divestment movement.

The motion calls on the mayor to publicly support the principle of divestment and to begin the process of dumping the fossil fuel portfolio of the London Pension Fund Authority (LPFA). But the vote is non-binding, meaning the mayor is bound only to consider its proposals and write a response.

More Follow External Link to Karl Mathieson, The Guardian