Local Government Pension Scheme: Fossil Fuels
The question
To ask the Secretary of State for Housing, Communities and Local Government, what his policy is on Local Government Pension Scheme investments in fossil fuels.
Answered by Alison McGovern
Investment strategies for Local Government Pension Scheme funds are set by administering authorities, and must include how social, environmental and corporate governance considerations, such as the environmental impact of fossil fuels, are taken into account. Authorities must have regard to their fiduciary duty to scheme members and employers, must consider factors that are financially material to the performance of their investments when setting their investment strategy, and must follow relevant legislation and guidance.
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