UK parliament pension fund takes first step towards fossil fuel divestment
Parliament’s pension fund trustees are to reconsider the rules of their investments to take account of the risk of climate change, in a first for MPs’ finances.
While stopping short of a promise to fully divest from fossil fuels, the pledge by the trustees marks an important first step towards assessing and reducing the effect of the pension fund’s investments – which are ultimately paid for by the taxpayer – on climate change.
The move is a victory for a group of MPs from all parties who have long campaigned for changes that would stop the funds – which amount to more than £700m – being invested in companies that promote or benefit from fossil fuels, thus exerting economic pressure on them to reduce greenhouse gas emissions.
Read more @The Guardian
