CAMPAIGNERS are urging Surrey County Council to stop investing pension money into fracking after figures reveal more than £161.4 million is pumped into oil companies, writes Local Democracy Reporter Rebecca Curley.

Surrey Pension Fund, managed by the county council (SCC), invests 4.29 per cent of its funds into companies such as Shell, BP, BHP Billiton and ConocoPhillips.

This amounts to £161,368,579 of the fund worth over £3 billion.

The data was revealed by campaign groups 350.org, Platform and Friends of the Earth who looked into all council-run pension funds around the country.

Fracking is the process of pumping water, mixed with a small proportion of sand and chemicals underground at pressure to cause the rock to break or fracture which then helps to release natural gas.

It is not widely used in the UK, but many are against it because of fears it will trigger earthquakes, harm the environment and move focus away from renewable energy.

Residents in Surrey have been campaigning against oil drilling at Leith Hill near Dorking by Europa Oil and Gas which this week withdrew a planning application after Environment Secretary and Surrey Heath MP Michael Gove decided not to extend their lease on Forestry Commission land.

Campaigner Emma Hughes has urged SCC to stop investing in fracking, commenting: “Fracking threatens communities, destroys local landscapes, and fuels climate change.”

Responding, a SCC spokesman said: “The Surrey Pension Fund is run for more than 250 public bodies in Surrey, including the county council, and this relates to the tiny amount invested in these companies, not specifically fracking. It has a duty to maximise returns and provide the best value for its pension members and taxpayers while also investing responsibly.”