UK. More than a third of MPs back campaign for fossil-free pension
Parliamentary pension currently holds £11.7m of BP shares and almost £11m in Shell
Large numbers of MPs have again called for their pensions to be made free of fossil fuel investments, ahead of an “historic” debate on the financial and ethical risks of pension investments in high carbon companies in Parliament this afternoon.
More than a third of serving Westminster MPs today reiterated calls for the Parliamentary Contributory Pension Fund (PCPF) to disclose its investments in carbon-intensive industries, and to commit to phasing out fossil fuel investments as soon possible.
In total more than 200 MPs, and 29 former MPs, are now backing the campaign, which is spearheaded by Green Party MP Caroline Lucas. It aims to end fossil fuel investments through the £700m PCPF, which currently holds £11.7m of shares in BP – its largest single holding – and almost £11m in rival oil giant Shell.
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