US$600M from pension fund eyed for coal-fired plants, group warns

Santo Domingo.- The National Committee to CombatClimate Change (CNLCC) on Wednesday called on the country’s labor unions tooppose the use of the pension fund on coal-fired coal plants, for being majorpollutants by spewing high amounts of CO2.

In a letter delivered to the country’s threemajor labor unions (CNUS, CNTD and CASC) the environmental group demands that theunions use their power of veto in the National Social Security Council against pullingUS$600 million from the pension fund to conclude construction on the coalplants at Punta Catalina, southern Peravia province.

The CNLCC called on the local labor unions toemulate their international counterparts which it affirms oppose the use of thepension fund to spend on projects that harm human health and the environment,"These resources of the working class can neither be allocated to manufactureof weapons or coal, nor to finance mines or power plants."

it adds that many Christian churches and majorinvestment funds in developed countries such as Britain, Sweden, Germany andFrance, are following the example of the international trade union movement, andhave withdrawn their investments from all coal projects.