Written Question·Department for Work and Pensions·UIN 17570
Pension Funds: Environment Protection
Tabled: 3 December 2024
Answered: 9 December 2024
Named DayQuestion
Clive Lewis
Labour — Norwich South
To ask the Secretary of State for Work and Pensions, what assessment her Department has made of whether the divestment of pension funds from insurance companies that are not compliant with the UK’s climate commitments is a part of fiduciary duty.
Answer
Emma ReynoldsTrustees have a fiduciary duty to make investment decisions in members’ best interests. Climate-related risk and opportunity is one of the major categories of financial factors of which trustees need to take account, in line with their fiduciary duty. The...
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