GLOUCESTERSHIRE county council (GCC) has invested more than £110 million of public money in fossil fuel companies such as Shell and BP, a climate change group has revealed.

The money is part of a £1.5 billion pot administered by the Gloucestershire Pension Fund that has been invested in fossil fuel companies which contribute to climate change.

Local authorities in Britain have invested the equivalent £218 in fossil fuels for every resident in the country.

350.org, which published the results, claim such investments have led to considerable losses in other pension funds.

The news comes as the government decides whether to scrap the Feed-in tariff which provides subsidies for renewable energy projects.

Danni Paffard, campaigner for 350.org, said: “This is the first time that the council’s full share portfolio has been made public. This should be a real wake up call for GCC to divest taxpayers’ money from fossil fuels.

“Not only are they contributing to the devastating effects of climate change but they are putting people’s pensions at risk at a time when the financial community is becoming increasingly sceptical about channelling money into fossil fuel companies.”

The data and online map published by 350.org, Platform, Friends of the Earth and others, has traced where the £231 billion of public money has been invested by all 418 local councils. Local government in the UK invests over £14 billion, 4.6 million public sector pensions, into fossil fuel corporations.

Danni Paffard added: “Oxford and Bristol City Councils have already taken a lead in making fossil free commitments. GCC should now follow by reinvesting their funds in building new homes and investing in clean renewable energy and public transport.

“In the run up to climate talks in Paris this winter, it’s more important than ever that we take use our local power to call for meaningful action on the climate crisis.”

A GCC spokesman said: “Gloucestershire County Council doesn’t invest any money in the stock market. We do administer the Gloucestershire Local Government Pension fund, which invests money on behalf of thousands of staff and pensioners from over 100 organisations, to pay for their retirement.

“The fund has a legally enforceable duty to maximise investment returns, otherwise taxpayers risk having to make up the difference. The fund only makes investment decisions on the basis of advice from specialist professional investment managers.”

To find out more about the divestment movement please visit: http://gofossilfree.org/uk/pensions/.