News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Pensions

MPs debate dropping oil stocks from their pension fund

MPs call for parliament’s pension fund to divest from fossils fuels in a historic debate

Climate change campaigners in front of the Houses of Parliament in London
Climate change campaigners in front of the Houses of Parliament in London Photo: Getty Images

The UK parliament will hold a debate on dropping oil, gas and other fossil fuel stocks from its pension fund on Wednesday 22 May, as MPs advocating divestment bid to win more colleagues to their cause.

The initiative, spearheaded by Liberal Democrat MP Ed Davey and Green MP Caroline Lucas, has gained pledges of support from 221 serving MPs — one-third of the total 650 — and 28 former MPs who still have savings in the £730m Parliamentary Contributory Pension Fund.

WSJ Logo