UK PENSION SCHEMES INVESTMENT IN CLUSTER MUNITIONS

That this House notes that the UK is a signatory to the Convention on Cluster Munitions; believes that the UK should not directly or indirectly support the manufacture of cluster munitions; further notes that the UK pension firms often make investments through third party funds managed by external bodies not bound by UK law; further notes that this includes the Local Government Pension Scheme; further notes that primary responsibility of local authority pension schemes is the return from investment; calls for the Government to investigate providing a framework to advise councils how to approach ethical issues; and calls on the Government to explore ways to prevent UK pension forms investing in the overseas manufacture of cluster munitions.