Tag: Global Justice Now

Anger as Lothian Pension Fund increases fossil fuel investments

Climate justice campaigners have condemned the Lothian Pension Fund for increasing its investments in fossil fuels despite the worsening climate emergency. 

The latest investment holdings list from the Lothian Pension Fund reveals that the fund’s investments in oil and gas companies have risen in value to £208m in 2024 from £166m in 2022. This increase is driven by the purchase of additional shares rather than changes in the market value of existing holdings and has arisen despite Edinburgh and East Lothian councils passing motions in 2022 calling on the fund to divest from fossil fuels in order to tackle the climate crisis.

The Lothian Pension Fund is the second biggest fossil fuel investor of all the council pension funds in Scotland. It invests in some of the world’s biggest climate polluters, including TotalEnergies, Exxon Mobil, Eni, Equinor, Shell and BP.

TotalEnergies, now Lothian Pension Fund’s largest fossil fuel investment following a recent significant purchase of additional shares, is currently developing the East African Crude Oil Pipeline. If completed, the pipeline will stretch 1,444km across Uganda and Tanzania, to pump oil out of new oil fields in Uganda to be exported on the international market. It would produce 379m tonnes of carbon emissions if it goes ahead.

Joan Forehand from campaign group Divest Lothian said: “It is appalling that the Lothian Pension Fund is choosing to invest even more of its members’ pensions in companies that, despite responsible investors’ efforts over many years to get them to change course, are doubling down on oil and gas expansion plans. 

“The science is clear: we need to rapidly transition away from fossil fuels to avoid catastrophic climate breakdown, and the economic collapse that would bring. Increasing investment in the fossil fuel industry highlights the failure of the Lothian Pension Fund to adequately assess climate change risk in its financial modelling.”

Sally Clark, divestment campaigner at Friends of the Earth Scotland, said: “It’s unbelievable that despite the worsening climate crisis and clear support for ending fossil fuel investments from councillors in Edinburgh and East Lothian, Lothian Pension Fund has actually increased investments in fossil fuels. 

“These fossil fuel companies are driving climate breakdown and the pension fund’s managers have a responsibility to act in the best interests of their members and future generations. 

“The money moved away from fossil fuels could instead be invested in ways that support local communities and protect the planet for everyone, like renewable energy. As skyrocketing energy bills are plunging millions of people into fuel poverty across the UK, this transition is more important than ever.” 

Jane Herbstritt, climate campaigner at Global Justice Now added: “Despite the certainty of the climate emergency, TotalEnergies is pressing ahead with its climate-wrecking development of the East African Crude Oil Pipeline – displacing local communities and destroying the environment in order to profit from pumping out more new oil than can be safely burned.

“It is wholly irresponsible for the Lothian Pension Fund to give its backing to this by increasing its investment in TotalEnergies, particularly when councillors in Edinburgh and East Lothian have voted for the pension fund to divest from oil and gas.”

Divest Lothian is calling on the pension fund’s managers to stop investing in fossil fuels and to instead invest in renewable energy and social housing in order to prioritise the long-term health and well-being of its members and of communities around the world. 

Thousands march for Climate Justice

Several thousand people marched through Edinburgh yesterday as part of Global Day of Action for climate justice during the UN Climate Conference COP27 in Egypt.

The March was demanding action on warmer homes, better public transport and a speedy transition away from oil and gas which organisers say will help address the cost of living crisis as well as cut climate pollution.

The route through the capital took protestors past different stops highlighting the banks, polluters and governments who are driving climate breakdown.

The event also drew attention to the importance of upholding human rights in responding to the climate crisis, here in the UK and world-wide, as the issue of brutal repression of civil society in Egypt comes under the spotlight.

The march was one of over 40 events across the UK and Ireland on a Global Day of Action for Climate Justice.

Friends of the Earth Scotland head of campaigns Mary Church commented: “As world leaders gather once again to negotiate the future of humanity, thousands of people are marching to demand solutions to the climate crisis that put people and the planet first.

“The solutions to climate change are within grasp and only require the political will to deliver them urgently. Governments need to stop prioritising the demands of big polluters and start listening to the people instead.

“Putting an end date on oil and gas well within the decade, with a just transition to reliable, affordable renewables will help tackle the cost of living crisis as well as slashing emissions.

“There can be no climate justice without human rights, yet governments around the world including here in the UK are clamping down on civic space.

“We stand in solidarity with those already experiencing the impacts of climate breakdown and with the people of Egypt who are being denied their human rights by a brutal regime.

“We support the call of the Egyptian human rights movement for the release of all those who are being unjustly detained including British citizen and human rights defender Alaa Abd El Fattah who is on hunger strike in prison.”

November 12 March was organised by the Edinburgh Climate Coalition, Climate Justice Coalition, Stop Climate Chaos Scotland, Friends of the Earth Scotland, Global Justice Now, Extinction Rebellion Scotland, Tipping Point, BankTrack, Jubilee Scotland, Scot.E3.

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PICTURES: Neil Hanna, Colin Hattersley and Ric Lander

Scotland prepares to join Global Climate Justice Day of Action

Campaigners will today march through Edinburgh as part of Global Day of Action for climate justice during the UN Climate Conference COP27 in Egypt.

The March will demand action on the cost of living that also helps address the climate crisis. The route through the capital will highlight the banks, polluters and governments who are driving climate breakdown, as well as the resulting impacts on the lives and livelihoods of people around the world.

Organisers say the event will draw attention to the importance of upholding human rights in responding to the climate crisis, here in the UK and world-wide, as the issue of brutal repression of civil society in Egypt comes under the spotlight.

The family-friendly march through the city will be one of over 40 events across the UK and Ireland on a Global Day of Action for Climate Justice.

Mary Church, Friends of the Earth Scotland commented: “As world leaders gather once again to negotiate the future of humanity, thousands of people are marching to demand solutions to the climate crisis that put people and the planet first.

“The solutions to climate change are within grasp and only require the political will to deliver them urgently. Governments need to stop prioritising the demands of big polluters and start listening to the people instead. Putting an end date on oil and gas well within the decade, with a just transition to reliable, affordable renewables will help tackle the cost of living crisis as well as slashing emissions.

“There can be no climate justice without human rights, yet governments around the world including here in the UK are clamping down on civic space.

“We stand in solidarity with those already experiencing the impacts of climate breakdown and with the people of Egypt who are being denied their human rights by a brutal regime.

“We support the call of the Egyptian human rights movement for the release of all those who are being unjustly detained including British citizen and human rights defender Alaa Abd El Fattah who is on hunger strike in prison.”

Global Justice Now will join the march with protests outside HSBC bank, drawing attention to the bank’s role in charging high interest rates for debt repayments from African countries.

Countries in the Global South are currently spending 5 times more on unjust debt repayments than they are addressing the impact of the climate crisis.

Liz Murray, head of Scottish campaigns Global Justice Now said: “This profit-driven system is hurting us all – here in the UK and around the world. And countries in the global south are getting hit particularly hard.

“They’re suffering some of the worst impacts of climate change, despite having played almost no part in causing it, and they’re additionally burdened by enormous debts. Banks here in Scotland are implicated in that – with companies like HSBC and BlackRock making big profits from the interest on those debts and refusing to cancel them.”

Natasha Ion, climate campaigner at Banktrack, said their organisation would be outside Santander bank on Hanover Street highlighting the fact that world’s largest banks have pumped $4.6 trillion dollars into fossil fuels since the Paris Agreement was signed.

Natasha commented: “The climate march will tell banks that they must go beyond burning, and stop financing the extractivism that is wrecking the planet.

“The fossil fuel industry is one of the main drivers of climate change, and has been implicated in endless human rights violations, primarily against Indigenous communities and those on the frontlines of extraction in the Global South.

“Commercial banks also finance major companies guilty of mass deforestation in regions such as Latin America. The highly polluting meat and dairy industry, with massive business like JBS at the centre, has consistently encroached on indigenous lands and been active in illegal deforestation.”

Campaigners are demanding an end to new fossil fuels projects and will be focusing on the UK Government who are currently considering approving the vast new Rosebank oil field.

Mary O’Brien, a grandmother of 10 who is involved in the Stop Rosebank campaign said: “Given the urgency and seriousness of the climate emergency, it is unbelievable that we are even having to fight against new oil and gas fields like Rosebank.

“But thousands of people across the UK and around the world are coming together to stop these climate-wrecking projects and to build that better future.

“I’m doing this for my grandchildren and for future generations, so that they can have a liveable planet. Join us on the march as we demand a rapid and fair transition away from fossil fuels to reliable, affordable renewables.”

March starting point is at 12pm, Saturday 12 November at St Andrew Square, Edinburgh EH2 2LL.

The route of the march will pass six points that highlight different demands for climate justice:

1. St Andrew Square – Make Polluters Pay

There will be a large installation of the ’scales of justice’, a performance by the Extinction Rebellion ‘red rebels’ as well as some stalls run by migrant/global justice groups.

2. HSBC Bank, 76 Hanover Street –  Cancel all Debt to Global South Countries

There will be several people on stilts dressed as bankers who are robbing Africa, as well as banners with key messages around debt.

3. Santander Bank, 31 Hanover Street  – End Fossil Finance

The theme is banks financing destructive projects across the world – specifically large scale cattle farming in the Amazon. There will be large trees and people dressed as cows.

4. East Market St – Solidarity with Egypt: Free All Political Prisoners

The street will be lined with posters and banners calling on the Egyptian government to free political prisoners, and for the UK Government not to come home without British citizen Alaa Abd El-Fattah.

5. UK Government building on Sibbald Walk – No New Fossil Fuel Projects

The theme is no new oil and gas/ and Stop the Rosebank oil field. There will be big banners and large and small roses decorating the square in front of the building.

6. Scottish Parliament –  End the Cost of Living Scandal – Just Transition Now

The theme is cost of living/ energy price crisis. When the march arrives at Parliament attendees will be given placards with related demands and encouraged to form a ring around the Parliament.

March ends 2:30pm.

Climate March: Scotland to join Global Day of Action on 12th November

Edinburgh will host a Climate Justice March on Saturday 12 November as part of a Global Day of Action, campaigners have announced.

It will take place during the UN Climate Conference COP27 that runs from 6 – 18th November in Egypt. The family friendly march is being organised by a range of climate and environmental groups and will coincide with over 20 UK events and scores more around the world.

Civil society activists in Egypt face persecution from one of the most repressive regimes in the world so there will be no mass mobilisation in Egypt around the climate talks. Egyptian activists along with allies across African countries and the Arab world, are calling for this global day of action to draw attention to demands for climate justice and human rights.

Since COP26 ended in Glasgow last year, people have felt the devastating impact of extreme climate change including the floods in Pakistan that displaced tens of millions, deadly heat waves across Europe and famine in East Africa.

This global crisis is being driven by the burning of fossil fuels. At the same time we are facing a cost of living crisis fuelled by rising energy prices. But in the last 12 months the UK Government has opened new oil and gas fields, tried to lift its ban on fracking in England, as well as offering licences for companies to explore for even more fossil fuels.

Campaigners will highlight how solutions to the climate crisis such as insulating our homes and investing in affordable renewable energy are essential to tackling the cost of living crisis.

The March will gather at St Andrew Square in Edinburgh at 12 noon on Saturday 12 November.

Friends of the Earth Scotland’s head of campaigns Mary Church said: “The climate crisis demands action on a global scale. Governments and corporations are adding fuel to the fire by going after more fossil fuels and fantasy techno-fixes that will only serve to delay action and line the pockets of the rich.

“We are marching to demand real solutions that will halt climate breakdown and improve ordinary peoples’ lives – an end to fossil fuels and a just transition to safe, affordable renewables.

“We see the suffering of climate impacted people around the world and we stand in solidarity with them and in particular with the people of Egypt who are being denied their human rights by a brutal regime.”

Extinction Rebellion Scotland are joining the march and highlighted the key issue from the UN climate talks of Loss and Damage. This is when the destruction from climate change is so great that it cannot be avoided or adapted to, and the people affected need compensation for their loss.

Joan Forehand, from Extinction Rebellion Scotland, commented: “None of us are going to be insulated from the climate crisis but there is terrible injustice and unfairness to this catastrophe.

“The wealthy have caused the most emissions, yet it is the poorest of humanity who are going to suffer disproportionately. Their natural resources have been extracted to create wealth for others. They are losing their homes, their futures and their lands and they don’t have the resources to protect themselves or rebuild their lives.

“It’s only fair that loss and damage payments are given to those who will suffer the most from this crisis, through no fault of their own. Without the justice of loss and damage, efforts to avoid ever worsening climate breakdown will stall and everyone will suffer.”

Luke Henderson, Coordinator of the Edinburgh Climate Coalition, explained why their grassroots group are involved in organising and promoting the march: “It is clear that our government won’t act urgently enough to reduce climate changing emissions and so it is up to us, the people, to push them into action.

“We have seen the huge impact that ordinary people can have through movements like Black Lives Matter and the #MeToo campaign. We need everyone who cares about the environment to show it to the world by joining this mass mobilisation.”

“It is fantastic that so many significant environment campaigns in Scotland are working together to promote the Edinburgh march and the energy and vibrancy of activists is going to create some fantastic art, music and excitement for the public to engage with and enjoy along the march route.

“Getting on the streets to save our planet could not be a more important issue, and this time having your say will be fun!”

Organised by the Edinburgh Climate Coalition, Climate Justice Coalition, Stop Climate Chaos Scotland, Friends of the Earth Scotland, Global Justice Now, Extinction Rebellion Scotland, Tipping Point, BankTrack, Jubilee Scotland, Scot.E3 and others.