P-06-1522 Convene a summit to accelerate sustainable and ethical investment by public sector pensions
This petition was submitted by Heather Bolton, having collected 578 signatures.
Text of petition
The
eight Welsh Local Government pensions, managed through the
Welsh Pension Partnership total assets worth £25 billion (31
March 2024) . Although there is a Responsible Investment policy,
there are millions of pounds of assets in people and planet harming
investments such as fossil fuels, deforestation, arms and companies
complicit in human rights abuses.
Additional information
The
Well-being of Future Generations Act requires public bodies to
consider the long-term impact of their decisions and work towards
improving the economic, social,environmental and cultural
well-being of Wales.
One of the well-being goals calls for Wales to be a ‘Globally
Responsible Nation’. Derek Walker, the future generations
commissioner has called on Welsh public bodies to conduct an urgent
review of public sector pension investments to ensure they are
ethical and sustainable.
Presently Rachel Reeves the UK chancellor is proposing the
amalgamation of all Welsh and English Local Government Pension pots
into a small number of pooled funds and changing their governance.
It is crucial that Welsh funds are directed towards ethical and
sustainable investments that can practically benefit the people and
environment of Wales rather than creating harm here and abroad. eg.
sustainable social housing, regenerative forestry, local green
energy, green transport, nature restoration.
Senedd Constituency and Region: