The fund, which is worth £24 billion and has about 250,000 members, will become one of the first major funds in the world to adopt such a divestment policy.

Members of the fund’s committee agreed the move yesterday afternoon in response to a call from its biggest employer member, Glasgow City Council, The Herald reports. 

Richard Bell, committee chairman, said: “When it comes to securing a just transition to a low-carbon economy, Strathclyde has always been happy to put its money where its mouth is.

“The fund has long been a leader in terms of measuring and disclosing the carbon impact of its investments; using its clout as a shareholder to push for better environmental outcomes and backing renewable energy.

“All of that will continue – and that is where we can perhaps have the greatest direct impact on the climate emergency.”

He added: “However, it’s important that we continue to be bold and to lead from the front. And that is why we have agreed divestment will play a part in our strategy in future.

“We’re putting fossil fuel companies on notice that, if they don’t take their responsibilities on carbon or climate seriously, then we are prepared to drop them from our portfolio.”