PARLIAMENTARY EARLY DAY MOTION
Shareholders in firms linked to the Grenfell Tower fire or building safety defects (17 January 2022)

That this House notes that Arconic's Reynobond, Kingspan's K15 Kooltherm and Saint-Gobain Celotex foam insulation products have been found to be highly flammable and dangerously combustible; notes the statement by the Association of Residential Managing Agents that nearly £50,000 may be the average cost of remediating building safety defects including flammable cladding or insulation; understands the reason for the revocation of Kingspan's proposed sponsorship of Mercedes Formula One team; recognises the responsibilities and opportunities and interest of shareholders in companies to influence the boards of builders and component suppliers; notes Norges Bank Investment Management has been a major shareholder in Saint-Gobain, Kingspan and Arconic, together with builders including Barratt, Bellway, Berkeley, Crest Nicholson, LendLease, Persimmon, Taylor Wimpey and Vistry; and asks Norges Bank to require responsible firms to resolve buildings' fire safety defects, compensate victims and to divest holdings in firms that fail to do so, as asked by the UK Cladding Action Group, End Our Cladding Scandal, Grenfell United, Action for Fire Safety Justice, the National Leasehold Campaign and the Leasehold Knowledge Partnership.

Sponsored by:
Sir Peter Bottomley (Conservative)