Thank you for contacting me about the Parliamentary Contributory Pension Fund (PCPF) and climate change.
The PCPF is a funded defined benefit pension scheme, managed by Trustees in line with scheme rules and any relevant legislation. The Independent Parliamentary Standards Authority is responsible for oversight of the scheme. Therefore, changes related to divestment would not be a decision for the Government.
I understand that following concerns being raised in this area in 2015, the Chairman of the Board of Trustees, Brian Donohoe, stated that he had received legal advice indicating that to exclude a sector would be incompatible with the Trustees' legal and fiduciary duties of investment.
Thank you again for taking the time to contact me.