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Boris Johnson told to divest £4.8Bn PF from fossil fuels

Boris Johnson told to divest £4.8Bn PF from fossil fuels

by The Daily Eye Team March 13 2015, 2:34 pm Estimated Reading Time: 0 mins, 45 secs

London assembly members vote in support of motion calling for mayor to support divestment from coal, oil and gas companies. Boris Johnson has been told by the London assembly to pull City Hall?s ?4.8bn pension fund out of coal, oil and gas investments, after assembly members voted on Wednesday on a motion in support of the fossil fuel divestment movement. The motion calls on the mayor to publicly support the principle of divestment and to begin the process of dumping the fossil fuel portfolio of the London Pension Fund Authority (LPFA). But the vote is non-binding, meaning the mayor is bound only to consider its proposals and write a response. The motion was proposed by the Green party?s Jenny Jones and was unanimously supported by Labour and the Liberal Democrats. Six of the Conservative?s nine members were absent. Those who were present voted against.

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