Parliamentary Contributory Pension Fund investment in the fossil fuel industry

That this House notes that the UK hosted COP26, the United Nations Climate Change Conference; further notes that in May 2019 this House declared a climate emergency; notes that approximately £700 million is invested in the UK and global economy through the Parliamentary Contributory Pension Fund; notes that while the Pension Fund has increased its investments in renewable energy, it still invests funds in the fossil fuel industry; notes the International Energy Agency has stated there can be no more new investments in fossil fuel supply beyond that already committed as of 2021 to keep below 1.5°C; notes that all fossil fuel companies are investing in new fossil fuel supply beyond 2021 and that no fossil fuel company net zero pledge is in line with the 1.5°C commitment; believes that to avert climate catastrophe, temperatures must not exceed the 1.5°C target mandated by the 2015 Paris Agreement; believes that Parliament and MPs have a responsibility to show leadership on the climate emergency; and therefore calls on the trustees of the Parliamentary Contributory Pension Fund to stop funding the fossil fuel industry and to invest in climate solutions instead.