Shropshire Council, Shrewsbury, England, is asking its pension fund committee to set a three-year timetable to reinvest assets currently in fossil fuel-linked investments, according to a spokesman.
The £1.9 billion ($2.4 billion) Shropshire County Pension Fund committee will also be asked to develop an investment strategy consistent with the United Nations' Sustainable Development Goals and add a statement to the investment strategy that climate change constitutes financial risks to the fund.
The fund's fossil fuel holdings included £27 million invested in stocks of Royal Dutch Shell PLC and BP PLC as of March 31, 2019.
