Aberdeen City Council has been named among a number of Scottish councils backing fracking overseas.
According to a report published by climate group Friends of the Earth Scotland, Scottish councils have invested £972 million in pension fund cash in 12 overseas fracking firms.
BP, Shell and ConocoPhillips are among the 12 firms named in the report.
Glasgow City Council had the largest investment with a £388 million stake through its management of Scotland’s largest council pension pot, the Strathclyde Pension Fund.
Friends of the Earth Scotland’s Head of Campaigns Mary Church said: “Opening up new frontiers of fossil fuels like fracked gas whether here or in the US is completely irresponsible in the context of the global climate crisis. The Scottish Government and Parliament oppose fracking because of the serious risks it poses to our environment and health. If fracking is too dirty and dangerous for us here in Scotland we shouldn’t be trying to profit from it taking place in other countries either.
“The pressure will be on SNP, Labour, Lib Dem and Green Councillors on Pension Committees whose parties oppose fracking in Scotland to put in place an investment approach that supports a healthy future for us all, instead of making a quick buck from dirty industries like fracking.”
The report details links between Scottish council pension fund investments and fracking worldwide, including:
Investors in Shell were named as Edinburgh City, Aberdeen City, Dundee City, Fife, Falkirk, Highland, Dumfries and Galloway, Scottish Borders and Orkney Islands Council.
Councils who were named as investors in BP were Edinburgh City, Aberdeen City, Dundee City, Falkirk and Dumfries and Galloway.
Aberdeen City Council has been contacted for comment.
