Fossil Fuel Investments

Part of 1. Questions to the Minister for Finance and Local Government – in the Senedd at 1:55 pm on 22 March 2023.

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Photo of Rebecca Evans Rebecca Evans Labour 1:55, 22 March 2023

I absolutely agree that working together to respond to the climate and nature crisis is the only way that we are really, really going to be able to make the improvements that have to be made. The whole pension system really needs to be responding to this agenda. It is true, of course, that local government pension authorities can be learning from each other and from across the public sector more widely. The meeting that I know, Jack, came about as a result of the work that you've been doing I think will be important in sharing that information. 

It's also important to recognise that pension owners are already taking some steps to decarbonise. So, it's important to recognise good practice where it is taking place. The local government Wales pension partnership announced a new decarbonisation initiative across £2.5 billion of its investments in April of last year. And again, I think that there are opportunities there to explore that good practice and see how it can be widened even further.