Council’s stance against fracking branded ‘hypocritical’ due to ‘dirty’ pension fund links

A row has broken out over a council’s commitment to tackling climate change because critics say it heads up the ‘dirtiest local authority pension fund in the UK’.

During a debate on a Labour motion declaring Tameside council’s opposition to fracking, Tory councillor Liam Billington took aim at the town hall over its close links with the Greater Manchester Pension Fund.

The pension fund board is administered by Tameside council, and chaired by the deputy leader of the council, Bill Fairfoull. It is based out of the Guardsman Tony Downes House in Droylsden.

The GMPF has come under fire from environmental groups including Fossil Free Manchester, who says that the scheme has more than a billion pounds invested in fossil fuels globally.

Its previous chair and former council leader Brenda Warrington said in 2020 she was ‘tired of all the constant attacks from environmental warriors’ on the pension fund.

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Current council leader Coun Ged Cooney has defended the GMPF’s investment portfolio, telling councillors they invest £1 billion in renewable energy.

Coun Billington, who represents Stalybridge South ward, said: “I do find it strange if not hypocritical of the Labour group to be presenting this [anti-fracking] motion tonight as it’s your group that runs the Greater Manchester Pension Fund and that has been described by Friends of the Earth as the dirtiest local authority pension fund holding the highest amount of shares involved with the production of fossil fuels.”

He said that according to the pension’s fund last annual report for 2021, £327m was held in Royal Dutch Shell and £277m in BP. There were also millions in equity