Investment in fossil fuels

Summary

The requester asked for the percentage of Isle of Man Government investments connected with fossil fuels over the last two years. The Treasury disclosed that approximately 3% of investments are linked to fossil fuels, noting that this is an average based on financial year-end reserves.

Key Facts

• Approximately 3% of Government investments are connected with fossil fuels.
• The figure represents an average for the last two years based on financial year-end investment reserves.
• The percentage is an approximation due to holdings in companies with mixed revenue sources.
• Exposure also exists through Exchange Traded Funds and Collective Investment Schemes.
• Investment values and percentages varied considerably due to market fluctuations and withdrawals.

Data Disclosed

• 3%
• 2018-04-16
• 2018-04-27
• 433135
• last two years

Original Request

I would like to know what percentage of Government investments (whether short term, long term, pension funds, etc) are connected with fossil fuels. An average for the last two years for which records are available would be fine, as I accept that the exact amount must vary over time. Thank you

Data Tables (1)

Full Response Text

Freedom of Information Seyrsnys Fysseree

The Treasury Government Office Douglas Isle of Man, IM1 3PU Telephone: (01624) 685605 Email: FOI.Treasury@gov.im Government Website: www.gov.im

Our ref: 433135 27 April 2018

Dear ###

We write further to your request which was received on 16 April 2018 and which states:

"I would like to know what percentage of Government investments (whether short term, long term, pension funds, etc) are connected with fossil fuels. An average for the last two years for which records are available would be fine, as I accept that the exact amount must vary over time. Thank you"

I am pleased to enclose all of the information you have requested. The percentage of Government investments connected with fossil fuels is approximately 3%. This is an approximate average for the last two years and based on the total of the financial year end investment reserves. We are only able to provide an approximation due to the following: • Some of the Treasury investments are in companies whose revenue is derived from a small percentage of oil, gas or coal which reduces the overall percentage of fossil fuels in the holding. • There are or have been holdings in Exchange Traded Funds and Collective Investment Schemes where there is some exposure via index weightings. • Values and percentages have varied considerably in relation to increasing market values, withdrawals and additions over the two year period. Please quote the reference number 433135 in any future communications.

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