Norfolk Pension Fund Accused of Fueling Climate Change Through Fossil-Fuel Investments

Norfolk's pension fund may be unknowingly investing in some of the world's most climate-damaging fossil-fuel infrastructure, according to recent reporting by The Bureau of Investigative Journalism.

The Norfolk Pension Fund has investments through large pension pools, such as ACCESS and LGPS Central, which make investment decisions on behalf of multiple local authority pension funds. This lack of transparency is problematic, as Norfolk's pension members may have limited visibility of the underlying assets in which their money is ultimately invested.

Norfolk is particularly vulnerable to climate change, with coastal communities already experiencing erosion and rising sea levels. Investing in fossil-fuel infrastructure that expands production, storage, and export contributes to these risks.

The LNG industry claims gas is a 'transition fuel', but growing scientific evidence suggests methane emissions from oil and gas operations may have far greater climate impacts than claimed. One project illustrates the scale of the issue: Norfolk pension money may be exposed to Rio Grande LNG in Texas, which could emit comparable emissions to dozens of coal-fired power stations.