To ask the Secretary of State for Work and Pensions, if he will make an assessment of (a) the extent to which UK pension funds are investing in fossil fuel and high carbon industries and (b) the potential effect of climate change on the stability of the UK pension sector; and if he will make a statement.
The Investment of UK pension funds is a matter for the trustees of the scheme. Trustees are required to take advice on investment from a suitably qualified person to ensure they are appropriate. Trustees make investments according to a statement of investment principles they prepare after taking advice. The statement will set out the extent to which the trustees take into account environmental considerations when making investments.