250+ MPs have pledged to

Divest Parliament

Big news: More than 250 MPs have signed the Divest Parliament Pledge. Ask your MP to be a climate leader and sign the pledge today.

 

 

More than 250 MPs and former MPs from across the political spectrum have come together to make a clear statement: it is unacceptable for our political leaders to be investing in fossil fuels at a time of climate breakdown.

Our political leaders are failing us on climate action. But together, we’re pushing our demand for a Fossil Free world to the top of the political agenda – where it firmly belongs.

Over 250 MPs agree: we need a Fossil Free future. It’s time to Divest Parliament.

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200 MPs from across the political spectrum have now pledged to Divest Parliament! We’ve got a plan to win the campaign to Divest Parliament in 2019 -- but we need everyone to get involved.

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Pledged MPs

Hundreds of former and current MPs from across the political spectrum have signed the Divest Parliament pledge. View the pledge and get your MP on board >>

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To the Trustees of the Parliamentary Pension Fund,

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.

Joan Ryan, Change UK – The Independent Group Mike Gapes, Change UK – The Independent Group
Alex Chalk, Conservative Party Andrew Selous, Conservative Party
Antoinette Sandback, Independent Bim Afolami, Conservative Party
Bob Neill, Conservative Party David Warburton, Conservative Party
Derek Thomas, Conservative Party Dr Dan Poulter, Conservative Party
Fiona Bruce, Conservative Party Giles Watling, Conservative Party
Gillian Keegan, Conservative Party James Heappey, Conservative Party
Justine Greening, Independent Luke Graham, Conservative Party
Maria Caulfield, Conservative Party Nadine Dorries, Conservative Party
Neil O’Brien, Conservative Party Neil Parish, Conservative Party
Nick Hurd, Conservative Party Nicky Morgan, Conservative Party
Rachel Maclean, Conservative Party Rebecca Pow, Conservative Party
Richard Benyon, Independent Robert Courts, Conservative Party
Sarah Newton, Conservative Party Scott Mann, Conservative Party
Sir Bernard Jenkin, Conservative Party Sir David Amess, Conservative Party
Sir Mike Penning, Conservative Party Sir Oliver Letwin, Independent
Steve Double, Conservative Party Stuart Andrew, Conservative Party
Tracy Crouch, Conservative Party Trudy Harrison, Conservative Party
Zac Goldsmith, Conservative Party David Simpson, Democratic Unionist Party
Emma Little-Pengelly, Democratic Unionist Party Gavin Robinson, Democratic Unionist Party
Sir Jeffrey Donaldson, Democratic Unionist Party Jim Shannon, Democratic Unionist Party
Nigel Dodds, Democratic Unionist Party Paul Girvan, Democratic Unionist Party
Caroline Lucas, Green Party Angela Smith, Independent
Frank Field, Independent Heidi Allen, Independent
Kelvin Hopkins, Independent Sarah Wollaston, Independent
Jared O’Mara, Independent Lady Hermon, Independent
Adrian Bailey, Labour Party Afzal Khan, Labour Party
Alan Campbell, Labour Party Alex Cunningham, Labour Party
Alex Norris, Labour Party Alex Sobel, Labour Party
Alison McGovern, Labour Party Andrew Gwynne, Labour Party
Andrew Slaughter, Labour Party Andy McDonald, Labour Party
Angela Rayner, Labour Party Ann Clwyd, Labour Party
Anna McMorrin, Labour Party Anneliese Dodds, Labour Party
Bambos Charalambous, Labour Party Barry Gardiner, Labour Party
Benjamin Bradshaw, Labour Party Bill Esterson, Labour Party
Carolyn Harris, Labour Party Cat Smith, Labour Party
Catherine McKinnell, Labour Party Catherine West, Labour Party
Chi Onwurah, Labour Party Chris Bryant, Labour Party
Chris Elmore, Labour Party Chris Matheson, Labour Party
Chris Ruane, Labour Party Chris Williamson, Labour Party
Clive Efford, Labour Party Clive Lewis, Labour Party
Dame Margaret Hodge, Labour Party Dan Carden, Labour Party
Dan Jarvis, Labour Party Daniel Zeichner, Labour Party
Danielle Rowley, Labour Party Darren Jones, Labour Party
David Drew, Labour Party David Hanson, Labour Party
David Lammy, Labour Party Dawn Butler, Labour Party
Debbie Abrahams, Labour Party Diana Johnson, Labour Party
Dianne Abbott, Labour Party Dr Alan Whitehead, Labour Party
Dr Paul Williams, Labour Party Dr Rosena Allin-Khan, Labour Party
Edward Miliband, Labour Party Eleanor Smith, Labour Party
Ellie Reeves, Labour Party Emma Hardy, Labour Party
Emily Thornberry, Labour Party Emma Dent Coad, Labour Party
Emma Lewell-Buck, Labour Party Fabian Hamilton, Labour Party
Faisal Rashid, Labour Party Gareth Snell, Labour Party
Geoffrey Robinson, Labour Party Sir George Howarth, Labour Party
Gill Furniss, Labour Party Gloria De Piero, Labour Party
Gordon Marsden, Labour Party Graham Jones , Labour Party
Harriet Harman, Labour Party Helen Goodman, Labour Party
Helen Hayes, Labour Party Hiliary Benn, Labour Party
Holly Lynch, Labour Party Hugh Gaffney, Labour Party
Ian Lucas, Labour Party Ian Mearns, Labour Party
Ian Murray, Labour Party Imran Hussain, Labour Party
Ivan Lewis, Labour Party Jack Dromey, Labour Party
James Firth, Labour Party Janet Daby, Labour Party
Jeff Smith, Labour Party Jenny Chapman, Labour Party
Jeremy Corbyn, Labour Party Jessica Morden, Labour Party
Jo Stevens, Labour Party John Cryer, Labour Party
John Grogan, Labour Party John McDonnell, Labour Party
Jon Cruddas, Labour Party Jon Trickett, Labour Party
Jonathan Reynolds, Labour Party Judith Cummins, Labour Party
Julie Cooper, Labour Party Julie Elliot, Labour Party
Justin Madders, Labour Party Karen Buck, Labour Party
Karen Lee, Labour Party Karin Smyth, Labour Party
Karl Turner, Labour Party Kate Green, Labour Party
Kate Osamor, Labour Party Keir Starmer, Labour Party
Kerry McCarthy, Labour Party Kevin Brennan, Labour Party
Laura Smith, Labour Party Lesley Laird, Labour Party
Liam Byrne, Labour Party Lilian Greenwood, Labour Party
Lisa Forbes, Labour Party Lisa Nandy, Labour Party
Liz McInnes, Labour Party Liz Twist, Labour Party
Lloyd Russell-Moyle, Labour Party Louise Haigh, Labour Party
Luke Pollard, Labour Party Lyn Brown, Labour Party
Madeleine Moon, Labour Party Margaret Beckett, Labour Party
Margaret Greenwood, Labour Party Marie Rimmer, Labour Party
Mark Tami, Labour Party Marsha de Cordova, Labour Party
Martin Whitfield, Labour Party Mary Creagh, Labour Party
Mary Glindon, Labour Party Matt Rodda, Labour Party
Matthew Pennycook, Labour Party Matthew Western, Labour Party
Melanie Onn, Labour Party Mike Amesbury, Labour Party
Mike Hill, Labour Party Mohammed Yasin, Labour Party
Naz Shah, Labour Party Neil Coyle, Labour Party
Nia Griffith, Labour Party Nic Dakin, Labour Party
Nicholas Brown, Labour Party Nick Thomas-Symonds, Labour Party
Owen Smith, Labour Party Paul Blomfield, Labour Party
Paul Farrelly, Labour Party Paula Sherriff, Labour Party
Peter Kyle, Labour Party Preet Kaur Gill, Labour Party
Rachael Maskell, Labour Party Rachel Reeves, Labour Party
Rebecca Long-Bailey, Labour Party Richard Burden, Labour Party
Richard Burgon, Labour Party Roberta Blackman-Woods, Labour Party
Roger Godsiff, Labour Party Rosie Cooper, Labour Party
Rosie Duffield, Labour Party Rupa Huq, Labour Party
Rushanara Ali, Labour Party Ruth Cadbury, Labour Party
Ruth George, Labour Party Ruth Jones, Labour Party
Ruth Smeeth, Labour Party Sandy Martin, Labour Party
Sarah Jones, Labour Party Seema Malhotra, Labour Party
Shabana Mahmood, Labour Party Sharon Hodgson, Labour Party
Siobhain McDonagh, Labour Party Sir David Crausby, Labour Party
Stephen Kinnock, Labour Party Stephen Morgan, Labour Party
Stephen Pound, Labour Party Stephen Timms, Labour Party
Stephen Twigg, Labour Party Steve McCabe, Labour Party
Sue Hayman, Labour Party Susan Elan Jones, Labour Party
Tanmanjeet Singh Dhesi, Labour Party Teresa Pearce, Labour Party
Thangam Debbonaire, Labour Party Thelma Walker, Labour Party
Toby Perkins, Labour Party Tom Watson, Labour Party
Tonia Antoniazzi, Labour Party Tracy Brabin, Labour Party
Tulip Siddiq, Labour Party Valerie Vaz, Labour Party
Vernon Coaker, Labour Party Vicky Foxcroft, Labour Party
Virendra Sharma, Labour Party Wes Streeting, Labour Party
Yasmin Qureshi, Labour Party Yvette Cooper, Labour Party
Yvonne Fovargue, Labour Party Barry Sheerman, Labour/Co-operative Party
Christina Rees, Labour/Co-operative Party Gareth Thomas, Labour/Co-operative Party
Ged Killen, Labour/Co-operative Party Geraint Davies, Labour/Co-operative Party
Jo Platt, Labour/Co-operative Party Lucy Powell, Labour/Co-operative Party
Meg Hillier, Labour/Co-operative Party Paul Sweeney, Labour/Co-operative Party
Stella Creasy, Labour/Co-operative Party Stephen Doughty, Labour/Co-operative Party
Steve Reed, Labour/Co-operative Party Christine Jardine, Liberal Democrats
Chuka Umunna, Liberal Democrats Dr Phillip Lee, Liberal Democrats
Jamie Stone, Liberal Democrats Jane Dodds, Liberal Democrats
Jo Swinson, Liberal Democrats Layla Moran, Liberal Democrats
Norman Lamb, Liberal Democrats Sir Ed Davey, Liberal Democrats
Sir Vince Cable, Liberal Democrats Stephen Lloyd, Liberal Democrats
Tim Farron, Liberal Democrats Tom Brake, Liberal Democrats
Wera Hobhouse, Liberal Democrats Benjamin Lake, Plaid Cymru
Hywel Williams, Plaid Cymru Jonathan Edwards, Plaid Cymru
Liz Saville-Roberts, Plaid Cymru Alan Brown, Scottish National Party
Alison Thewliss, Scottish National Party Angela Crawley, Scottish National Party
Angus MacNeil , Scottish National Party Brendan O’Hara, Scottish National Party
Carol Monaghan, Scottish National Party Chris Law, Scottish National Party
Chris Stephens, Scottish National Party David Linden, Scottish National Party
Deidre Brock, Scottish National Party Douglas Chapman, Scottish National Party
Dr Philippa Whitford, Scottish National Party Drew Hendry, Scottish National Party
Gavin Newlands, Scottish National Party Hannah Bardell, Scottish National Party
Ian Blackford, Scottish National Party Joanna Cherry, Scottish National Party
John McNally, Scottish National Party Lisa Cameron, Scottish National Party
Marion Fellows, Scottish National Party Martin Docherty-Hughes, Scottish National Party
Martyn Day, Scottish National Party Mhairi Black, Scottish National Party
Neil Gray, Scottish National Party Patricia Gibson, Scottish National Party
Patrick Grady, Scottish National Party Peter Wishart, Scottish National Party
Ronnie Cowan, Scottish National Party Stephen Gethins, Scottish National Party
Stewart Hosie, Scottish National Party Stewart McDonald, Scottish National Party
Stuart McDonald, Scottish National Party Tommy Sheppard, Scottish National Party

Former MPs

Naomi Long, Alliance Ben Howlett, Conservative Party
Caroline Ansell, Conservative Party Jason McCartney, Conservative Party
John Gummer (Lord Deben), Conservative Party Laura Sandys, Conservative Party
Clare Short, Independent Labour Alan Simpson, Labour Party
Andrew Smith, Labour Party Andy Sawford, Labour Party
Ann Cryer, Labour Party Frank Judd, Labour Party
Heidi Alexander, Labour Party Kerry Pollard, Labour Party
Lynne Jones, Labour Party Mark Lazarowicz, Labour Party
Michael Dugher, Labour Party Paul Flynn, Labour Party
Robert Flello, Labour Party Sadiq Khan, Labour Party
Tom Levitt, Labour Party Valerie Davey, Labour Party
David Steel , Liberal Democrats Dr Julian Huppert, Liberal Democrats
Greg Mulholland, Liberal Democrats John Leech, Liberal Democrats
Mark Hunter, Liberal Democrats Calum Kerr, Scottish National Party
Roger Mullin, Scottish National Party Mark Durkan, Social Democratic and Labour Party (SDLP)

About Divest Parliament

Divest Parliament works with MPs from across the political spectrum to sign our campaign pledge calling on their pension fund to phase out its substantial investments in fossil fuels.

By engaging with their own pension fund, MPs have the opportunity to show crucial leadership on climate change, responsible investment and the transition to a sustainable economy.

The pledge asks that the Pension Fund quantifies, reviews and discloses the fund’s investments in carbon-intensive industries, engages in a dialogue with current and former MPs and publicly commits to phasing out fossil fuel investments over an appropriate time-scale.

MPs have a crucial role to play in challenging the political power of an industry that continues to push for new fossil fuels, even in the face of glaringly evident climate change impacts across the globe.

The Parliamentary Contributory Pension Fund is the main pension fund for MPs serving in the House of Commons. All MPs automatically become members of the fund when they are elected to office.

It currently has 637 active members (current MPs who are paying into the fund), 224 deferred members (former MPs who have not yet retired), and 1090 retired members (former MPs who are retired and are receiving their pension). It is governed by a board of 12 cross-party trustees who manage the fund on behalf of the members.

In March 2017, following pressure from this campaign and the office of Caroline Lucas, the trustees made public for the first time details of the twenty largest holdings in the fund. According to the latest Annual Report, the largest investments currently made by the fund include stakes in the fossil fuel companies BP (£ 7.33 million), Royal Dutch Shell (£6.6 million), Rio Tinto (£3.67 million) and Total SA (£2.93 million).

Note: This campaign is focussed solely on fossil fuels due to the gravity of climate change and the financial risks associated with fossil fuel investments. However, disclosures gained during the campaign have revealed significant investment in British American Tobacco (£7.33 million) and other controversial industries.

The fund is governed by a board of 12 cross-party trustees: ten of whom are MPs or former MPs; the other two are chosen by IPSA (the Independent Parliamentary Standards Association) and the Prime Minister. The trustees look after the fund on behalf of MPs, and have a legal duty to run it in their best interests. As members of the fund, it is ultimately MPs money, and their voices should be heard.

A group of MPs, spearheaded by Green Party Co-Leader Caroline Lucas, have been engaging directly with the Trustees on issues of climate risk since 2014, and remain unconvinced that these risks are being sufficiently considered.

Their names will be included on the public list of supporters, and they’ll be kept up to date with further progress on the campaign, as well as opportunities to get more involved, including participating in key meetings with the trustees of the fund.

By having many MPs from across the political spectrum sign our pledge, we demonstrate growing political support for divestment from fossil fuels and reinvestment into a zero-carbon future.

This support allows us to effectively pressure the trustees of the MPs pension fund and means they take the issues more seriously.

This is a numbers game. The more former and current MPs we get signing the pledge, the more pressure the fund is under to act. This is why need constituents all over the UK to engage with their MPs on the issue and ask their MP to sign our pledge!

It’s crucial that MPs focus on an impactful, long term policy agenda to keep the vast majority of fossil fuels in the ground and build a sustainable economy. However, they can also show leadership in other areas, starting with the management of their own pension fund.

Why Divest?

Thousands of organisations and individuals have divested assets worth over $7 trillion. There are many reasons for MPs to join the fastest growing divestment movement in history:

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. Between $1-4 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

DUP MPs CALL FOR END TO FOSSIL FUEL INVESTMENTS

Half of the DUP MPs call on the Parliamentary Pension Fund to phase out its substantial investment in fossil fuel giants such as Shell and BP, following growing concerns about climate crisis.

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