Climate activists performed a disco-themed dance routine outside the venue of the Pensions and Lifetime Assocation’s (PLSA) annual investment conference in Edinburgh this week.
Protestors dressed in 1970s costumes said they wanted pension funds to stop investing in fossil fuel.
Activists from Extinction Rebellion Scotland, Divest Lothian and Global Justice Now Scotland handed out pamphlets to conference delegates highlighting reports by the Institute and Faculty of Actuaries and Carbon Tracker.
The reports claimed some of the climate-scenario modelling used by pension funds is based on economic models that are underestimate climate risk.
Elizabeth Matthews from Extinction Rebellion Scotland, said: “The current flawed climate risk models used by pension funds are dangerous and foolhardy.
“If we are to have a viable economy for today’s workers to retire into, it is critical that urgent action is taken to cut greenhouse gas emissions this decade.
“Pension fund managers must stop being duped by fossil fuel companies and act.”
The protest was outside the Edinburgh International Conference Centre, in the Scottish capital’s centre.
A spokesperson for the PLSA said the protest was peaceful and pointed out that many delegates at the event were committed to net zero and sustainable investing.
They said: “Extinction Rebellion Scotland, Divest Lothian and Global Justice Now Scotland were polite, fun and engaging in their interaction with our delegates this morning, reflecting their commitment to a productive dialogue on a sustainable future.
“The PLSA and its members have a proactive approach to environmental, social and governance (ESG) investing; addressing the challenges of net zero remains a priority for us.
“Sustainable investing is a key focus of our investment conference in Edinburgh, as it was at our dedicated ESG conference in November 2023.
“We also support our members on this issue through policy papers such as A Changing Climate, and guidance documents such as Towards A Greener Future: Case Studies From The Pension Sector.”
Samantha Downes is a freelance journalist
