BRADFORD campaigners were joined by a local MP as they marked a year of calling for the West Yorkshire Pension Fund (WYPF) to divest from fossil fuels.

Friday marked 12 months of Global Justice Bradford protesting outside the WYPF office every Friday, with Naz Shah – Labour MP for Bradford West – in attendance.

It is calling on the WYPF to pull out all of its investments in fossil fuels, with campaigners saying they will not stop until the Fund divests from companies like Shell and BP.

“All five West Yorkshire local authorities have voted for the WYPF to divest and they are supported by 13 West Yorkshire Labour MPs and 90 councillors from across the political spectrum,” Ms Shah, speaking in City Park, said.

“It’s time for the WYPF to listen and take action."

Bradford Telegraph and Argus:

 

Bradford Telegraph and Argus:

Councillor Andrew Thornton, Chair of WYPF’s Joint Advisory Group (JAG), responded: “WYPF recognises the risks of climate change to its investments and the concerns of those arguing for divestment from fossil fuel companies.

“In response WYPF has set out in detail how it is addressing these issues in its Responsible Investment Policy and its TCFD Statement, both of which are on the Fund’s website wypf.org.uk.”

“The primary obligation of the fund is to meet current and future member benefit requirements.

“To achieve this, various categories of investments are used to meet the required return, spread over a diversified portfolio to mitigate risks.

"The Fund is committed to achieving a net-zero portfolio for its investments and implementing this commitment with the aim of achieving real economy emissions reductions.

“WYPF’s investment in renewable energy assets, technology and sustainable infrastructure has increased significantly over the last few years and currently stands at £978m, with a further £183m committed for investment in unlisted funds. This is far in excess of its holdings in non-renewable energy."