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Revealed: Manchester pensions invested in world’s most unethical companies

Author: Jordan Bluer, Mancunian Matters (UK), Published on: 13 January 2015

Pensions worth millions from all 10 Greater Manchester Councils are being invested... into the businesses, which include Barrick Gold, Freeport-McMoRan, Halliburton and Chevron – and all are under fire for various ethical violations...ShareAction, a charity promoting responsible investment by pension funds, said: “Investors should take into account the environmental and social impacts of companies in which they invest...Rio Tinto, a mining company facing worldwide criticism for dozens of deaths and environmental abuses, receives £170,000,000 worth of pensions investments from GMPF...ShareAction argues that pension funds have a social responsibility that extends far beyond legal responsibilities to their members...Amnesty International urged immediate interference by GMPF to put and end to companies operating outside of a moral code and at the expense of people worldwide. “GMPF should scrutinise the human rights records of companies in which they invest,” economic director Peter Frankental told MM.“ They should hold them to account to improve their record if they continue to make investments in these companies.”

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