It’s time we all invested in the future

Barely a day goes by when another high-minded institution doesn’t lambast the world for its failure to tackle the climate emergency.

The problem is that words are rarely backed up by much in the way of action of their own.

There can be fewer better examples of this gulf between declarations and deeds than the one exposed by the Sunday Mail today.

Just weeks after Glasgow City Council predictably jumped on the emergency bandwagon, its pension fund administrators invested millions of pounds in BP – one of the most polluting companies in the world.

Campaigners have identified an estimated £ 709million of Strathclyde Pension Fund (SPF) tied up in environmentally damaging firms.

With a total value of £ 21billion, this organisation has the financial clout to make a real difference not just in Scotland but in the global fight to save our environment for future generations.

It is very likely that fossil fuel divestment could make sense not just for the planet but also for the thousands of pensioners who will rely on this fund.

Between 2010 and 2019, it has been estimated individuals and institutions have moved almost £10trillion in assets out of polluting companies.

These are unlikely to be the businesses with a bright financial future. If Glasgow City Council really wants to be a carbon-zero city by 2030, it should start by demanding zero carbon investments from its pension fund.