PARLIAMENTARY EARLY DAY MOTION
Parliamentary Contributory Pension Fund investment in the fossil fuel industry (15 November 2021)

That this House notes that the UK hosted COP26, the United Nations Climate Change Conference; further notes that in May 2019 this House declared a climate emergency; notes that approximately £700 million is invested in the UK and global economy through the Parliamentary Contributory Pension Fund; notes that while the Pension Fund has increased its investments in renewable energy, it still invests funds in the fossil fuel industry; notes the International Energy Agency has stated there can be no more new investments in fossil fuel supply beyond that already committed as of 2021 to keep below 1.5°C; notes that all fossil fuel companies are investing in new fossil fuel supply beyond 2021 and that no fossil fuel company net zero pledge is in line with the 1.5°C commitment; believes that to avert climate catastrophe, temperatures must not exceed the 1.5°C target mandated by the 2015 Paris Agreement; believes that Parliament and MPs have a responsibility to show leadership on the climate emergency; and therefore calls on the trustees of the Parliamentary Contributory Pension Fund to stop funding the fossil fuel industry and to invest in climate solutions instead.

Sponsored by:
Zarah Sultana (Your Party)