GLOBAL DIVESTMENT DAY

That this House welcomes the growing fossil fuel divestment movement in the UK, consisting of universities, churches, institutions, pension holders and other individuals demonstrating climate leadership by withdrawing financial support from the fossil fuel industry; further welcomes Global Divestment Day taking place on 13 and 14 February 2015; recalls that in June 2014 British Medical Association members voted to end investments in the fossil-fuel industry and increase investment in renewable energy, because of the serious health threat posed by unmitigated climate change; notes the Unhealthy Investments report from UK health-based non-governmental organisations, which calls for other health organisations to end investment in the 200 largest publicly-listed fossil fuel companies, over a period of five years; acknowledges the work of Carbon Tracker in highlighting financial risks of investment in high-carbon assets and the carbon bubble; further notes that the Governor of the Bank of England is among numerous high-profile figures agreeing that the vast majority of fossil fuel companies' reserves cannot be burned if the internationally agreed goal of limiting global temperatures to below two degrees above pre-industrial levels is to be achieved; considers that hon. Members have a responsibility to demonstrate leadership on climate change; and calls on the Trustees of the Parliamentary Contributory Pension Scheme to quantify and review the Fund's investments in fossil fuel industries in light of both their contribution to advancing climate change and the risks facing those industries from effective climate regulation.