Many constituents got in touch with me regarding the Parliamentary Contributory Pension Fund. I wrote to the fund to represent the concerns raised by my constituents and I have received a reply.
I am pleased to note that the trustees of the fund have decided to publish the top 20 holdings which will improve public transparency to complement the publication of the annual report 31st March each year on their website.
The trustees of the fund monitor managers of the funds for their compliance on a range of ethical issues such as climate change risk and on fossil fuels. However, legally the trustees do have a legal responsibility to make decisions on fiduciary rather than solely based on ethical grounds.
I will continue to engage with the trustees who have engaged with MPs for over two years and to represent your concerns.