Member

The amendments on climate head in the opposite direction because the first amendment in this group seeks to extend fiduciary duties, but another one says that investments cannot be made in companies that have anything to do with coal. Of course, if one takes the whole capitalisation of a company that has a division to do with coal, it comes to quite a significant number. We all want a sustainable world. It seems absolutely bonkers that new money is going into new coal mines because we just do not need any new coal in this world, but is this really the best way of going about things? The UK pensions industry is quite a small player in the overall investment world. If we accept this as a climate thing, when somebody comes back and says that there is a health thing called tobacco, what we would say about that?