3.10 Dumfries and Galloway

Dumfries and Galloway Council Pension Fund has over 16,600 members including employees of Dumfries and Galloway Council, Dumfries and Galloway College, Dumfries and Galloway Housing Partnership, the Scottish Agricultural College and several other local public and charitable bodies. The fund was valued at £825.5 million as at March 2020.[1]

Dumfries and Galloway Council Pension Fund’s statement of investment principles states that the pensions committee “take the view that non-financial factors should not drive the investment process at the cost of financial return on the Fund”. The fund “does not actively disinvest in companies for ethical, social or environmental reasons”.[2]

We requested a list of the companies that Dumfries and Galloway Council Pension Fund holds shares in under freedom of information. However, the council declined and instead sent us a list of pooled funds. We have been unable to obtain a complete list of shareholdings for each of these funds so we cannot verify whether Dumfries and Galloway Council Pension Fund has investments in nuclear weapons.

Action

If you live in Dumfries and Galloway and you’re concerned about Dumfries and Galloway Council Pension Fund’s investments, please contact your local councillors: https://nukedivestmentscotland.org/local-authority-divestment-resolutions/

[1] https://www.dumgal.gov.uk/media/23546/Pension-Fund-annual-accounts-2019-20/pdf/D_G_Pension_Fund_-_Audited_Accounts_web.pdf?m=637366367014770000.

[2] Ibid.