A county councillor is claiming victory after he says he persuaded the Nottinghamshire Pension Funds Committee to investigate whether it should be investing in tobacco as part of its portfolio.
Councillor Lee Waters, Ashfield Independents, asked if the committee could look at tobacco holdings in the pensions pot as part of its oversight.
His request was backed by Labour's Councillor Mike Pringle, Ollerton.
Mr Waters, Hucknall South, had criticised the pension fund's £13 million investment in a tobacco company. He said: "It's a declining industry and what message does this give everyone?
"Why are we looking to engage with companies to make them change and not just disinvesting them?"
Mr Waters is also campaigning for divestment from companies involved in the extraction of fossil fuels, child slavery, animal testing, the production of recreational drugs and others who produce weapons.
In July, the pensions meeting was held up for eight minutes by Extinction Rebellion campaigners shouting from the public gallery.
Councillors walked out of the meeting as climate campaigners accused the committee of ‘hypocrisy’ over where it invests pension funds.
As at March 31 2020, the pension fund was valued at approximately £5 billion, with over 300 contributing employers and over 48,000 contributing members.
Documents given to the committee showed that pension fund investments have increased by £285.6 million (4.7%) between March and June 2021, as the market has continued to recover.
Fund investments have increased by £910 million(16.6%) over the last 12 months.
