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£141m investment in fossil fuels criticised

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fossil fuels

 

 

 

MASS data released this week by Pembrokeshire Friends of the Earth (Oct 30) reveals that Pembrokeshire Council (as part of the Dyfed Council Pension Fund) has £64.8million of public money directly invested through workers pension funds in fossil fuel companies like BP and Shell with a further projected £76.5million in indirect fossil fuel investments.

The research shows that Pembrokeshire County Council has over 8% of its pension fund directly invested in fossil fuels, and money is invested into multinational fossil fuel companies including BP, Shell and BHP Billiton

Eleanor Clegg of Friends of the Earth said: “Many people working for Pembrokeshire Council will be concerned to learn that their future is tied up with such a risky and polluting industry. When governments do act to prevent dangerous climate change, the business model for fossil fuel companies will be over, and that day is fast approaching. And, if oil and gas companies keep on drilling in their final days, it will make climate change far worse – it is the right decision both financially and ethically for Pembrokeshire County Council to divest as soon as possible.”

This is the first time that the £231 billion investments of local government public money have ever been broken down and released publicly, and their exposure to fossil fuels quantified. The data shows that overall the 192 councils in the UK have £14 billion invested in fossil fuels via their pension funds. Three quarters of these direct fossil fuel shareholdings are in only ten companies, headed by BP and Shell.

80% of fossil fuel reserves need to remain in the ground to avoid catastrophic climate change. Consequently, there has been growing concerns about the long-term financial risks of fossil fuel investments. A recent analysis found that California’s public pension funds, CalPERS & CalSTRS, incurred a combined loss of over $5 billion in the last year alone from their holdings in the top 200 fossil fuel companies.

Friends of the Earth said in a statement: “This data offers the residents of Pembrokeshire the information they need to ask why the Council is choosing to invest in risky oil, gas or coal. Instead the Council could reinvest this money into building new homes, clean renewable energy or public transport.”

Eleanor Clegg also told The Herald: “Most fund members and taxpayers won’t be happy to learn that their money is funding climate change. As local residents we’ll be calling on the council to stand on the right side of history and divest from fossil fuels.”

She added: “Oxford and Bristol City Councils have already taken a lead in making fossil free commitments, joining 40 cities internationally and larger institutions like the Norwegian Government Pension Fund. There are 389 institutions globally – including universities, faith groups, health groups and governments – that have committed to divest. Local residents who would like to join the local campaign to convince Pembrokeshire Council to divest from fossil fuels should get in touch.”

A spokesman for Pembrokeshire County Council said in response: “Many commentators from the public and media get confused with the fact that it is the Dyfed Pension Fund and not Carmarthenshire, Pembrokeshire or Ceredigion individually. All investments are on behalf of the Dyfed Pension Fund – not any individual employer. There are approximately 50 employers in the fund.”

The spokesman added: “The Dyfed Pension Fund Statement of Investment Principles (SIP) details the Fund’s ‘Social, Environmental and Ethical Considerations’. Paragraph 5 states: The Pension Panel recognises that social, environmental and ethical considerations are among the factors which investment managers will take into account, where relevant, when selecting investments for purchase, retention or sale. The managers have produced statements setting out their policies. The managers have been delegated by the Panel to act accordingly.

“The Pension Fund is a member of the Local Authority Pension Fund Forum (LAPFF), which is one of the leading voices in corporate governance and responsible investment in the UK.

“Before making investments in fossil fuel companies the investment managers assess a wide range of factors, including, the political stability of the region where its reserves lie, the financial regimes it operates in, the life and quality of its reserves, its operational record, quality of the management, its financial strength, sensitivity to volatile energy prices and its market valuation.

 

 

2 Comments

2 Comments

  1. tom

    October 21, 2015 at 1:08 pm

    the pension fund managers have a legal obligation to ensure a decent return, it’s not to support the green ecoterrorists idea of their perfect world where we rely on the sun and the wind like the good old days of scurvy, the plague and the black death
    possible slight exageration to make my point – no different to the greenies there then 🙂

  2. Flashbang

    October 22, 2015 at 1:20 am

    I thought most green investments were money losing enterprises massively subsidised by the taxpayer. Their stupid wind generators have disfigured the countryside especially in Pembrokeshire.

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Farming

Farmers warned over rising fuel theft risk as prices surge

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Rural communities urged to stay vigilant amid sharp increases in red diesel and heating oil costs

FARMERS and rural residents across Wales are being urged to remain vigilant against fuel theft following a sharp rise in fuel and heating oil prices linked to ongoing tensions in the Middle East.

FUW Insurance Services Ltd has issued the warning after recent data showed significant increases in fuel costs. Reports suggest the price of red diesel has climbed to around 109p per litre in mid-March, up from approximately 67p in February, representing an increase of more than 60%. Heating oil prices have also risen steeply, in some cases more than doubling from around 60p per litre to £1.30.

The increases are placing additional pressure on rural households, many of which remain heavily reliant on oil. In Powys, around 55% of homes are not connected to the gas grid, while in Ceredigion the figure rises to 74%, leaving communities particularly exposed to price fluctuations.

Concerns are also growing over the potential rise in rural crime. Historically, spikes in fuel costs have been linked to increased theft, with farms often targeted due to the presence of fuel tanks and machinery. Such incidents can lead not only to financial losses but also environmental damage where tanks are tampered with or fuel is spilled.

Farmers are being advised to take practical steps to protect their property, including regularly checking fuel levels, securing tanks and pumps with appropriate locks, and installing CCTV where possible. Reporting suspicious activity promptly is also seen as key to preventing theft.

The warning also applies to other rural premises, including churches, chapels, village halls and community buildings, which often rely on heating oil and may be left unattended for long periods.

Dafydd Peredur Jones, Senior Account Executive at FUW Insurance Services Ltd, said: “Rising fuel prices are placing additional pressure on rural communities, but they also increase the risk of theft. We are urging farmers and rural residents to take proactive steps to protect their fuel supplies and remain vigilant. Simple preventative measures can make a significant difference.”

FUW Insurance Services Ltd said it will continue to support customers during the current period and encouraged anyone with concerns about their insurance cover or security arrangements to seek advice.

 

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Farming

Welsh farmland plays vital role in bird survival, study finds

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Research across farms reveals 69 species, including threatened birds

WELSH farmland is playing a crucial role in supporting bird populations, according to a new study which could help reverse decades of decline.

The Farming Connect-led research, carried out across fourteen farms in Wales, recorded sixty-nine different bird species – including sixteen classified as threatened on the International Union for Conservation of Nature (IUCN) red list.

Populations of farmland birds have fallen sharply in recent decades, but the findings suggest that well-managed agricultural land can still provide important habitats for a wide range of species.

The study, conducted during the April to June breeding season in 2025, used specialist recording devices to capture birdsong during the dawn chorus. Two sensors were placed on each farm across a range of habitats, including dairy, beef and sheep systems.

Recordings were analysed using artificial intelligence software, allowing researchers to identify species and assess biodiversity levels across different landscapes.

The results varied significantly between farms, with one site recording as many as forty-six species.

Farming Connect biodiversity specialist Lynfa Davies, who oversaw the project, said the presence – or absence – of certain birds can reveal how well a habitat is functioning.

She said: “If insect-feeding birds are scarce, it suggests the land is not supporting enough insects. Measures such as planting flower-rich margins or allowing wet scrub to develop can make a real difference.”

Among the threatened species identified were linnet, tree pipit, curlew, greenfinch, ring ouzel and wood warbler.

“The presence of these birds highlights the importance of farmland and the role it plays in providing valuable habitats,” she added.

Researchers also examined “trophic niches” – the roles species play within the food chain. The study identified a range of groups including insect-eaters, omnivores and top predators such as birds of prey.

The presence of these predators, known as vertivores, suggests healthy ecosystems, as they rely on a strong chain of smaller species for food.

The findings could help shape future land management across Wales, with experts suggesting wider use of monitoring technology could support biodiversity on a larger scale.

The study also points towards the potential for farmers to play a central role in reversing wildlife decline by creating and maintaining habitats that support a broader range of species.

 

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Health

Calls for urgent action as ‘corridor care’ concerns grow in Welsh hospitals

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CONCERNS over patients being treated in hospital corridors have intensified after a new report highlighted the scale of pressures facing emergency departments across Wales.

The Royal College of Emergency Medicine has published findings describing the increasing use of so-called “corridor care”, where patients receive treatment in non-clinical areas due to overcrowding.

Responding to the report, Rhian Bowen-Davies warned that the situation risks becoming normalised unless urgent action is taken.

She said: “The findings offer further important insight into the scale and impact of care delivery in non-clinical environments and demonstrate why far more needs to be done.

“Words like ‘frightening’ and ‘warzone’ should never be used to describe aspects of our health service, yet this kind of language is increasingly common in reports from patients and staff, as well as in conversations I’ve had with older people and their loved ones across Wales.”

The Commissioner said there is growing evidence that corridor care is now an “everyday reality” within the NHS, driven by sustained pressures on services.

She added that the practice puts both the safety and dignity of patients at risk, particularly older people, who are more vulnerable when treated outside appropriate clinical settings.

Call for coordinated response

The Commissioner is now urging health boards and the next Welsh Government to take coordinated action to ensure patients are treated in suitable environments at all times.

She said improving conditions would not only help deliver safe and dignified care, but also rebuild public confidence in the health service.

“Restoring trust is crucial,” she added. “Many older people feel that confidence in the system has been lost.”

The report adds to mounting pressure on NHS services in Wales, where emergency departments have faced ongoing challenges with demand, staffing and patient flow.

 

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