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Posts on ‘March 25th, 2020’

MPs’ pension fund still investing in oil companies despite climate emergency

Shares in Shell and BP still part of the scheme

Jon Stone Policy Correspondent @joncstone: 24 March 2020

The parliamentary pension fund for MPs is still investing in fossil fuels despite parliament declaring a climate emergency, new figures show.

The fund is still heavily invested in Shell (£8m) and BP (£4.4m) despite over 350 current and former MPs backing a campaign to set a good example by diverting cash elsewhere.

MPs have however welcomed news in the fund’s latest filings that it is increasingly shifting its cash towards renewable energy – with five per cent of investments going to the green sector for the first time. read more

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