Green Party MP for Brighton Pavilion, Caroline Lucas, has called for the parliamentary pension fund to divest from fossil fuels during a House of Commons debate.

In the debate - 'A Green industrial revolution' - Lucas called for the “long overdue” step to be taken after praising the recent Student Climate Network People & Planet announcement that over half of UK universities have now divested from fossil fuels.

Lucas stated: “I have been trying, along with other colleagues, to get out parliamentary pension fund to divest from fossil fuels. It still hasn’t happened.”

First steps towards divestment began last year, with more than a third of MPs backing a campaign to not include investments in non-renewable energy.

The campaign, led by former Energy Secretary Ed Davey and Green MP Caroline Lucas, had support, at the time, from 221 sitting MPs and 28 former MPs.

This was followed by a petition also calling on the trustees of the scheme to end its investment in fossil fuel companies and gathering support from a total of 330 current and former MPs.

During the debate, MP for Warwick and Leamington Matt Western, added that government “needs to act and show leadership with its own pension fund”.

Western stated: “Whether through the fleet of vehicles run by the government or through our pension fund, we must show that we are serious about addressing the climate emergency. I believe that we must divest from fossil fuels in the parliamentary pension fund.”

The debate follows Nest’s divestment from Tobacco in June last year, with the government set up scheme also pledging to boost its efforts to tackle risks posed by climate change.

Both the UN-backed Principles of Responsible Investment and Climate Action 100+ have gathered support from the pensions industry, with Royal London and Nest the most recent signatories respectively.

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