Divest Parliament

Join the campaign to divest the £612m Parliamentary Pension Fund of fossil fuels, and show leadership on climate action.

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Preventing dangerous climate change means leaving at least 80% of known fossil fuel reserves in the ground.  If our politicians are serious about tackling climate change, they shouldn’t be investing in them.
We’re calling on MPs to show leadership on climate action by divesting their pension from fossil fuels, and reinvesting in the sustainable economy of the 21st century.

 


If you contact your MP with this tool we (350.org) will send you periodic campaign updates. You can unsubscribe from these at any time.

How did it go? What did your MP say?

As constituents, MPs have to respond to our questions. Hopefully your MP agrees to sign the pledge straight away, but if not it would be useful to understand their concerns. Please let us know how your correspondence or meetings have gone, and we can help myth-bust common problems and provide support. You can get in contact here.

supportive mps
about the campaign

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about the campaign

Already over 600 organisations and tens of thousands of individuals with assets worth over $3.4 trillion have made commitments to divest from fossil fuels, making this the fastest growing divestment movement the world has ever seen.

A group of cross-party MPs has been talking with the MPs Pension Fund since 2014  about climate risk and transparency, but the Trustees responses have failed to address the members concerns.

‘Divest Parliament’ is a campaign asking MPs to show leadership on climate action and responsible investment by supporting action on their own pension fund.

 

more about the campaign
why divest?

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supportive mps

Caroline Lucas MP, Green Party

Caroline Lucas MP, Green Party

Barry Gardiner MP, Labour Party

Barry Gardiner MP, Labour Party

Laura Sandys, Conservative Party

Laura Sandys, Conservative Party

Liz Saville-Roberts MP, Plaid Cymru

Liz Saville-Roberts MP, Plaid Cymru

Recent Members of Parliament (2015-2017)
Heidi Alexander, Labour Party
Caroline Ansell, Conservative Party
Paul Blomfield, Labour Party
Ronnie Cowan, Scottish National Party (SNP)
Thangam Debbonaire, Labour Party
Stephen Doughty, Labour/Co-operative Party
Michael Dugher, Labour Party
Mark Durkan, Social Democratic and Labour Party (SDLP)
Frank Field, Labour Party
Robert Flello, Labour Party
Paul Flynn, Labour Party
Gill Furniss, Labour Party
Barry Gardiner, Labour Party
Mary Glindon, Labour Party
Roger Godsiff, Labour Party
David Hanson, Labour Party
Carolyn Harris, Labour Party
Helen Hayes, Labour Party
Meg Hillier, Labour/Co-operative Party
Ben Howlett, Conservative Party
Rupa Huq, Labour Party
Imran Hussain, Labour Party
Diana Johnson, Labour Party
Norman Lamb, Liberal Democrats
Ivan Lewis, Labour Party
Rebecca Long-Bailey, Labour Party
Caroline Lucas, Green Party
Rachael Maskell, Labour Party
Kerry McCarthy, Labour Party
Jason McCartney, Conservative Party
Catherine McKinnell, Labour Party
Greg Mulholland, Liberal Democrats
Roger Mullin, Scottish National Party (SNP)
Ian Murray, Labour Party
Lisa Nandy, Labour Party
Matthew Pennycook, Labour Party
Steve Reed, Labour/Co-operative Party
Liz Saville-Roberts, Plaid Cymru
Barry Sheerman, Labour/Co-operative Party
Tommy Sheppard, Scottish National Party (SNP)
Andrew Slaughter, Labour Party
Jeff Smith, Labour Party
Cat Smith, Labour Party
Andrew Smith, Labour Party
Karin Smyth, Labour Party
Jo Stevens, Labour Party
Gareth Thomas, Labour/Co-operative Party
Catherine West, Labour Party
Hywel Williams, Plaid Cymru
Daniel Zeichner, Labour Party

Former Members of Parliament
Mark Hunter, Liberal Democrats
Dr Julian Huppert, Liberal Democrats
Frank Judd, Labour Party
Mark Lazarowicz, Labour Party
John Leech, Liberal Democrats
Tom Levitt, Labour Party
Kerry Pollard, Labour Party
Laura Sandys, Conservative Party
Andy Sawford, Labour Party
Clare Short, Independent Labour
Alan Simpson, Labour Party
Chris Williamson, Labour Party

Parliamentary Candidates (2017)
Eli Aldridge, Labour Party
Sian Berry, Green Party
Alistair Ford, Green Party
Tanya Jones, Green Party
Eleanor Margolies, Green Party
Kieran Turner, Green Party
Sean Woodcock, Labour Party

We’re asking that MPs show their support by signing the below pledge:

‘Unmitigated climate change threatens to undermine our economy, shared environment and global security. Under the UK’s Climate Change Act and the Paris Agreement, the UK is committed to  limiting warming to well below 2C and to aim for no more than 1.5C. This requires  leaving the vast majority of fossil fuel reserves unburnt, creating the real possibility of fossil fuel assets becoming stranded – with profound implications for the global economy.

We believe Members of Parliament have a responsibility to act on climate change, and a unique  opportunity to show leadership on climate action, responsible investment and the management of climate risk through addressing the practices of our own pension fund.

As MPs past and present, and members of the Parliamentary Pension Fund, we call on the Trustees to uphold their fiduciary duty and take the financial risks of climate change seriously. We ask they quantify, disclose and review the fund’s investments in carbon-intensive industries, engage in a dialogue with fund members and managers on responsible investment, and commit to phasing out fossil fuel investments over an appropriate time-scale.’

Please ask your MP to sign the pledge! If you need more information, please contact Danni at 350.org.

If you are an MP, and are interested in signing, please let us know via this form.

why divest?

There are many reasons why MPs may want to join the thousands of organisations and individuals with assets worth over $3.4 trillion already divested, and join the fastest growing divestment movement the world has ever seen:

The Paris Agreement saw 196 countries commit to action on climate change to limit warming to 2 degrees, ideally 1.5. Fulfilling these promise means a step change in action today, including leaving 80% of known fossil fuel reserves in the ground.

From South African Apartheid to Tobacco, we know that divestment campaigns have had huge impacts at shifting the discourse on key political issues and making change in the past.  And there’s no issue that needs a gear change more than climate.

Through significant political lobbying, the fossil fuel industry has been a key barrier to meaningful legislation on climate change. Similarly with Tobacco, a powerful divestment campaign sought to reduce the political power of Big Tobacco and brought in science based policy on smoking.

By addressing climate risk in their own pension fund and supporting the divestment movement, MPs can show commitment and leadership on tackling the crucial issue of climate change and challenge the lobbying of the fossil fuel industry.

Many of those divesting from fossil fuels have used this opportunity to re-invest in the greener, cleaner technologies of the future. Renewable energy is a rapidly growing sector, with a $3 trillion annual funding gap to achieve the scale required for transition.

The low-carbon transition will mean enormous job creation across a range of sectors, with the Green Finance Initiative hoping to build the UK’s position as ‘Global Hub of Green Finance’.

The MPs’ pension fund is their own money, but the lack of transparency over where the money is going and how members concerns are addressed is an issue across the whole pension system. By addressing these issues in their own fund, policy makers can lead the way for more responsible investment practised across the board.

For many MPs integrity is important, and being invested in companies engaging in disruptive lobbying and causing climate change will be uncomfortable. They should be able to put their money where their values are.

Concerted action to decarbonise our economy, rapid technological advances in renewable energy generation and the physical constraints on extraction in a changing environment are expected to seriously devalue oil, coal and gas assets over the coming years and decades. Over $2 trillion worth of fossil fuel assets may become ‘stranded’, presenting a major financial risk to pension holders. This position has been endorsed by leading economists and financiers, including the Governor of the Bank of England, the World Bank  and the G20’s Financial Stability Board.

With decarbonisation inevitable and the renewable energy sector growing rapidly, many prudent investors are divesting from fossil fuels to protect their returns.

Updates

www.divestparliament.org
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