Early day motion 445

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CLIMATE CHANGE RISK, FOSSIL FUEL DIVESTMENT AND THE PARLIAMENTARY PENSION FUND

That this House notes that approximately £500 million is invested in the UK and global economy through the Parliamentary Contributory Pension Fund; further notes the considerable academic and economic evidence from reputable sources, including the Bank of England and Carbon Tracker, that climate change poses a serious risk to returns on investment for pension holders; notes the growing fossil fuel divestment movement consisting of universities, churches, institutions, businesses, individuals and others who are shifting investment to low carbon alternatives instead of fossil fuels and undertaking investor stewardship to promote strong management of climate change risk within the corporate sector; considers that parliamentarians, past and present, should demonstrate leadership on responsible investment and tackling climate change by challenging and changing how the Parliamentary Pension Fund is invested; further considers that such action from parliamentarians would be a practical and positive move in advance of the Paris climate talks and would highlight the urgent need to shift financial flows away from fossil fuels and into low-carbon solutions and climate adaptation; and calls on the trustees of the Parliamentary Contributory Pension Fund to quantify and review the fund's investments in high carbon industries and the fossil fuel sector, and associated risks, to enter into discussions with members about addressing these risks and to develop an industry-leading approach to climate change in its investment strategy, with a view to divesting the Parliamentary Pension Scheme from fossil fuels over an appropriate timescale.

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Total number of signatures: 32

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Showing 32 out of 32

Name Party Constituency Date Signed
Brake, Tom Liberal Democrats Carshalton and Wallington 13.01.2016
Cadbury, Ruth Labour Party Brentford and Isleworth 28.01.2016
Cameron, Lisa Scottish National Party East Kilbride Strathaven and Lesmahagow 13.10.2015
Crawley, Angela Scottish National Party Lanark and Hamilton East 17.09.2015
Davies, Geraint Labour Party Swansea West 08.12.2015
Debbonaire, Thangam Labour Party Bristol West 12.10.2015
Durkan, Mark Social Democratic and Labour Party Foyle 14.09.2015
Edwards, Jonathan Plaid Cymru Carmarthen East and Dinefwr 11.01.2016
Ferrier, Margaret Scottish National Party Rutherglen and Hamilton West 24.11.2015
Field, Frank Labour Party Birkenhead 24.11.2015
Gardiner, Barry Labour Party Brent North 14.09.2015
Godsiff, Roger Labour Party Birmingham Hall Green 14.10.2015
Gray, Neil Scottish National Party Airdrie and Shotts 20.10.2015
Hayes, Helen Labour Party Dulwich and West Norwood 10.05.2016
Hopkins, Kelvin Labour Party Luton North 16.09.2015
Lammy, David Labour Party Tottenham 21.10.2015
Law, Chris Scottish National Party Dundee West 12.10.2015
Lucas, Caroline Green Party Brighton Pavilion 14.09.2015
McGovern, Alison Labour Party Wirral South 07.12.2015
McNally, John Scottish National Party Falkirk 13.10.2015
Monaghan, Carol Scottish National Party Glasgow North West 17.09.2015
Monaghan, Paul Scottish National Party Caithness Sutherland and Easter Ross 16.09.2015
Mullin, Roger Scottish National Party Kirkcaldy and Cowdenbeath 15.09.2015
Oswald, Kirsten Scottish National Party East Renfrewshire 16.09.2015
Paterson, Steven Scottish National Party Stirling 14.12.2015
Pennycook, Matthew Labour Party Greenwich and Woolwich 15.09.2015
Qureshi, Yasmin Labour Party Bolton South East 26.10.2015
Ritchie, Margaret Social Democratic and Labour Party South Down 14.09.2015
Saville Roberts, Liz Plaid Cymru Dwyfor Meirionnydd 15.09.2015
Stephens, Christopher Scottish National Party Glasgow South West 15.09.2015
Williams, Mark Liberal Democrats Ceredigion 07.01.2016
Zeichner, Daniel Labour Party Cambridge 16.09.2015