The Economic Case against investing in fossil fuels

USS keep arguing that it is their fiduciary duty to focus on generating as much income from their investments as possible despite the evidence that many members want them to stop investing in fossil fuels and other high carbon investments and also stop funding new oil and gas fields through corporate bonds. The article here makes clear that there is a strong economic argument for ceasing investment in fossil fuels. So, even if USS chooses to ignore its members, it should divest on financial grounds alone.

Please support the legal action against the USS Trustees if you can Legal action may be the only way that we can get USS to take the radical action needed to respond to the Climate Emergency

Paul Kinnersley, Co-ordinator DivestUSS

4 thoughts on “The Economic Case against investing in fossil fuels

  1. Thank you so much! I’ve been working this week (as a non-expert but local council divestment campaigner) on arguments about divestment vs engagement and had concluded that the biggest risk is now failing to divest, but you provide so much more evidence to back up that conclusion. And now I’m wondering if there’s scope for a legal case against local councils for failing to divest their pension funds, both by pension fund holders and also council tax payers, since it’s public money that’s being put at risk and it’ll be council tax payers who have to pick up the bill.

    Any thoughts on that? If that looks like a possibility, I can raise it with UKDivest, with a national day of actions coming up very soon.


    1. Jane – hi thanks for your message. Legal cases are difficult – expensive and the law seems murky. Can I suggest you contact the Pension Ombudsman first – I’d focus on whether members views have been taken into account. Keep in touch – Paul


      1. Hi – thanks for the warning! But USS is planning to pursue a legal case (and I’ve just pledged to support that), and ClientEarth already has one underway. It’s clearly not something to undertake lightly, by any stretch of the imagination, but I suppose I was thinking maybe there might be a nationally supported test case against one selected local authority that is digging in its heels against removing its investments in fossil fuels. Are you saying this is just not a good idea at all, or maybe that the time isn’t yet right, or approach with caution? Your thoughts are appreciated.


  2. Thanks so much for sharing this link, it’s great to see that at the time I donated, 9000 people had also done the same. I am convinced we’re doing the right thing. Pension companies and others who continue to invest in destruction, need new leadership, informed by science and committed to change, for the good of everyone.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: