UK Pension Funds Invest in US LNG Projects Contradicting Green Commitments
UK pension funds are indirectly financing US LNG terminals, resulting in higher CO₂ emissions. This investment raises concerns about the effectiveness of climate commitments made by pension schemes.
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Eight US LNG terminals have been identified as backed by UK pension funds, collectively generating CO₂ emissions surpassing the entire UK output. While some pension funds, like Waltham Forest, have committed to divesting from fossil fuels, they remain invested in funds that finance significant gas projects, including those managed by Global Infrastructure Partners.
The funding channels through private markets complicate transparency and accountability. Despite promoting natural gas as a cleaner alternative, studies indicate it has greater emissions over a 20-year span compared to coal. This situation highlights the gap between perceived green investments and actual environmental impact, risking the integrity of climate commitments.
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