Coherent Identifier About this item: 20.500.12592/0dcddp

A NEW FRONT IN DIVESTMENT CAMPAIGNING - UK Local Authority Pension Investments in Industrial

24 January 2022

Summary

This has led to a growing in industrial livestock and issues a rallying call for campaigners to movement to pressure local authority pension funds to divest from include divestment from industrial livestock companies in their one of the major drivers of climate breakdown, fossil fuels. [...] Researchers have legitimacy of industrial livestock companies, removing their found that the fossil fuel divestment movement has shifted the financial backing and ultimately (and most importantly) building debate away from the role of climate action by individuals, the foundations of political and public support for regulation of this opened space for radical, structural change, and helped destruc. [...] Feedback’s screening of just one of the BlackRock West Midlands £3.3 million funds in the pension portfolio, the iShares Emerging Markets Index Fund7, against a list of the top 35 London Pension Fund Authority £2.1 million largest global meat and dairy companies, reveals at least $67 million invested in large meat and dairy Leicestershire £1.4 million companies globally (as of May 2020). [...] The world’s biggest five meat and dairy 70% of the worlds antibiotics are used on farmed animals and companies combined emit more greenhouse gases than increase the risk of the development of antibiotic-resistant ExxonMobil11. [...] The total meat, dairy and animal feed exposure percentage for these local authorities was calculated by taking the average direct and indirect agribusiness exposures for the dataset and multiplying them by the fund amount as reported in the 2019/2020 annual report.

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