British pension schemes warn on cost of fossil fuel divestment

Several of Britain's top pension funds say they would have lost hundreds of millions of pounds had they sold out of oil and gas stocks in recent years, highlighting a potential cost to scheme members as funds face pressure to help fight global warming.While some major investors globally have been making headlines by announcing fossil fuel divestment plans, several pension schemes in Britain warn there could be a big downside.Schemes for Greater Manchester and West Yorkshire, which together manag