London must divest its pension investments from Russia

Following the full scale Russian invasion of Ukraine and the atrocities being committed, Caroline Pidgeon, leader of the Liberal Democrat London Assembly Group, has today written to the Chief Executive Officer of the London Pensions Fund Authority (LPFA), asking that the pension fund divest from any Russian companies or bonds.

Caroline Pidgeon said:

“As with so many Londoners I am sickened by what is happening on the streets of Ukraine. In recent days we have seen several local government pension schemes confirm that they will divest from shareholding in Russian companies, as well as other organisations with major investments, including the Church of England.

“It’s time to end the era of Russian interference in London and this country. UK companies, public bodies and pension funds must look closely at their financial links to Russia and do the right thing.

“Our own major London-wide local government pension fund should take a lead by divesting any assets it may hold in Russian companies or bonds immediately.

“The time for action is now.”

Letter to the CEO of the London Pensions Fund Authority