friends of the earth, environment, climate change, fracking, divestment, shale gas

Revealed: Scotland’s Councils Gambling on Fracking Overseas

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By Friends of the Earth Scotland Scottish Councils invest £406 million of pension fund money in companies fracking overseas according to a report published today by Friends of the Earth Scotland [1]. The 23 fracking companies which Councils invest in include Range Resources, which has received record breaking fines for polluting water in Pennsylvania, and Cabot Oil and Gas, one of the top federal environmental violators amongst US fracking companies. Other companies include ExxonMobil, BP and Shell. Glasgow City Council had the largest investment holding a £142 million stake through the Strathclyde Pension Fund, which the council administers [2]. Friends […]