In a new report, doctors are calling for investments in coal, oil and gas companies to be withdrawn. They blame the industry for air pollution that is killing over 2,000 people a year in Scotland.
According to campaigners, over 180 institutions around the world, including city councils, universities and churches, have committed to ending £30 billion of fossil fuel investments. Protests are planned this week in Scotland and other countries to help persuade more investors to join them.
Last week the Norwegian government’s £556 billion pension fund disclosed that it had withdrawn investments from 114 coal, tar sands and other companies because of environmental concerns. Founded on revenues from North Sea oil and gas, it is the largest sovereign wealth fund in the world.
Last October the University of Glasgow decided to immediately freeze and then phase out fossil fuel investments over the next 10 years. The university’s governing court is due to receive a report on the financial impact of its move at a meeting later this month.