UK Parliament / Open data

Pension Schemes Bill [Lords]

Proceeding contribution from Nigel Mills (Conservative) in the House of Commons on Monday, 16 November 2020. It occurred during Debate on bills on Pension Schemes Bill [Lords].

I agree, and I was coming on to that argument. I am not sure that achieving net zero can be pushed down to individual pension schemes and individual investment advisers. I suspect we will have to accept that between now and 2050, there will be some businesses out there that are bad for the environment but we are still going to need their products and services. We will need some of those even after 2050. We will achieve net zero by having other businesses that are more positive for the environment, with some still being bad for it. I am not sure that we can require every individual pension scheme to be a net zero investor. Otherwise, there will be a load of things that they just cannot invest in, as they cannot achieve that strategy.

I fully agree with the sentiment and agree that the industry needs to do more. I said on Second Reading that what we do not need are posh written documents that sit there with nice-sounding promises that never get implemented. We need pension schemes and their investment managers to be much more—

About this proceeding contribution

Reference

684 c1513 

Session

2019-21

Chamber / Committee

House of Commons chamber
Back to top