All seven of Glasgow's MPs have called for the Westminster pension fund to stop investing in fossil fuels
Glasgow politicians have come together to call for the Westminster Parliament’s pension scheme to move away from investing in fossil fuels.
All seven Glasgow MPs have said that there is an urgent need for fossil fuel divestment and reinvestment into a low-carbon economy to prevent the worst effects of climate change.
Patrick Grady (Glasgow North, SNP), Stewart McDonald, (Glasgow South, SNP), Alison Thewliss (Glasgow Central, SNP), Chris Stephens (Glasgow South West, SNP), David Linden (Glasgow East, SNP), Carol Monaghan (Glasgow North West, SNP) and Paul Sweeney (Glasgow North East, Labour and Co-operative Party) have signed a pledge calling for the Parliamentary Pension Fund to divest from fossil fuel companies.
The 2017 Annual Report for the Parliamentary Pension Fund reported millions of pounds from the fund being used to invest in fossil fuel companies, with five of the fund’s top 20 investments in fossil fuel companies such as BP, Shell and Total SA.
The investments contrast to the UK government’s commitment under the Paris Agreement to keep global warming well below two degrees Celsius. Campaigners argue that keeping this commitment would mean leaving most known fossil fuel reserves in the ground.
Ric Lander, campaigner at Friends of the Earth Scotland, said: “Climate change is already affecting millions of people as rising seas and extreme weather destroy whole communities. We urgently need to cut our emissions – but this change won’t happen if our leaders continue to bet their pension on companies who will lose out if we go green.
“That’s why it’s so encouraging to see senior MPs calling for their pension fund to take climate change seriously by going fossil free.”
The Divest Parliament campaign has seen constituents across the UK writing to and organising meetings with their MPs to raise awareness of the issue – and so far 155 current and former MPs have backed the campaign.
