Deputy Presiding Officer, I'd like to put on the record my thanks to our bold First Minister, Mark Drakeford, who has given me much support and encouragement on this issue. Just last month, I held a cross-party event on this matter, and it was the Prif Weinidog who ensured that a senior Welsh Government official attended and contributed to what was an excellent discussion.

So, let's ask ourselves: why are we debating the seemingly dry subject of public sector pensions, and why am I excited by the opportunity they present to us? Well, the first reason we are doing this is because humanity faces catastrophe. That catastrophe is in the form of global warming. Global warming is caused by the use of fossil fuels, and we know that we have a very short window of opportunity to avert that catastrophe.

Pension funds are huge investors, and stopping them from investing in fossil fuels as quickly as possible is a must if we are to stop global temperature rises that will risk the very future of the human race. Now, coupled with the risk of climate change is the fact that fossil fuels are often imported from dictatorships, many of whom are serious destabilisers in global affairs. They are undemocratic regimes that promote values that we find abhorrent, and we should not continue to invest in them. Fossil fuels are also finite and the price of them fluctuates massively. Disinvestment is inevitable in the long term, but for the reasons I've already stated today, we should look to accelerate that process, as has already happened with pension fund investment in coal.

There is a well-established myth that markets and investment funds should be left to their own devices—their own devices to achieve the best financial returns possible. But the reality is that this never happens. All sorts of actors across the globe constantly interfere with markets and pension fund investment decisions. What this disinvestment campaign is saying is that one of those actors should be us, seeking to include, as an investment criteria, long-term sustainability.

We have seen, haven't we, just recently, that public sector fund managers can move remarkably quickly to remove investments that promote risk to human life? On this very occasion, it was the removal of pension fund investments in Russia, following their illegal invasion of Ukraine. Nobody across the Chamber could argue that this wasn't the right thing to do.

Deputy Presiding Officer, one of the strangest facts around whether pension funds invest in fossil fuels is their lack of willingness to involve those who pay into them in the decision-making process about where they invest. Now, I have no doubt that the vast majority of investors support the decision not to invest in coal, and they support the decision not to invest in Russia. And I believe that they would also support the decision for public sector pension funds to go carbon neutral at the same time as the rest of the public sector, by disinvesting from fossil fuels.

Being a genuine democrat and wanting to empower the people of Wales, I would go even further. I would ask them to be involved in forming a new investment plan—a plan that gives them the returns and improves the places where they live. There is, as I said, a real opportunity here to get pension schemes to invest in infrastructure in Wales. There is plenty of opportunity for investment returns here, and it could drive the creation of home-grown renewable energy, the building of social housing—a great investment because of the guaranteed rent returns—and carbon-neutral public transport. Just those opportunities alone would create highly skilled, high-paid jobs whilst investing in the future of our local communities. It is in the interest of Wales and the rest of the UK that we increase our levels of energy security, and it is about promoting home-grown energy production. And it is in all of our interests that the public sector goes fully carbon neutral by 2030.

Deputy Presiding Officer, today's debate is an opportunity for the Welsh Government to once again show the sort of bold leadership that saw us become the first nation in the world to declare a climate emergency, and to build on the well-being of future generations into legislation. The Deputy Presiding Officer knows that, at heart, I am an optimist and I know, in this Senedd Chamber, we take the averting of climate catastrophe as seriously as it needs to be taken. So, I commend this motion to the Senedd Chamber today, and I would urge all of you, cross party, to support this motion and join me in the campaign for pension fund disinvestment and urge the Welsh Government to act now. Diolch yn fawr.