On Monday (25 January), local MP Robert Largan asked the Work and Pensions Secretary, the Rt Hon Dr Therese Coffey MP, to explain how pension funds are being used to support green investment.
The High Peak MP asked:
“I have often talked about my ambition for High Peak to be the capital for tackling climate change. I welcome the Government’s commitment to protecting our environment, including the big increase in funding for the restoration of High Peak’s moorlands. We all have a part to play in tackling climate change, and with trillions in assets available to them, can I ask the Secretary of State what steps the Government are taking to ensure that pension funds make more environmentally sustainable investments in future?”
In response, the Work and Pensions Secretary said:
“My hon. Friend is right to highlight the key role that pension scheme assets can play in tackling climate change. The UK is already leading the way on this issue, thanks to actions taken by the Government, but particularly by my hon. Friend the Member for Hexham (Guy Opperman), the excellent Minister for Pensions. In 2018, we introduced key environmental, social and corporate governance legislation for occupational pension scheme investments, and we have gone further with the pension scheme legislation that is currently awaiting Royal Assent. It makes the UK the first major economy to put assessing climate risk and disclosure into statute for pension schemes, a point that we will continue to reinforce as we run up to hosting COP26, and we encourage other countries to do likewise.”
Robert Largan MP has been consistently raising climate change and conservation issues since being elected. Robert’s first question in Parliament promoted nature-led solutions to climate change, such as moorland restoration.
Robert Largan MP commented:
“This is a big year for Britain and the global effort to build back better after Covid. Ahead of hosting the COP26 later this year, I am pleased that the Government is encouraging new ways of boosting green investment. I am keeping the pressure on Ministers to ensure we continue to be a world-leader in tackling climate change.”
