Thank you for contacting me about the Senedd pension fund.
As a Welsh Conservative I am proud of the UK Government’s record on addressing climate change. Since 1990, the UK as a whole has cut emissions by nearly 50% while growing the economy by more than two thirds, the best performance on a per person basis than any other G7 nation. Regrettably, emissions in Wales only fell by 31% during the period between 1990 to 2021, whilst it was not until recently that the Welsh Government set emission targets in line with those stipulated by the Paris Agreement and the UK Committee on Climate Change.
In 2020, the Senedd committed to divesting its own pension scheme away from fossil fuels. However, the Senedd pension scheme is managed independently by the Pensions Board. As such, it is also important that all pension trustees have the independence to do what is best for the fund and fulfil their fiduciary duty to their members.
More broadly, I also believe that public bodies in Wales should be encouraged to ensure that any investments made by their individual pension schemes are environmentally and socially responsible, as well as meet the needs of their members.
Thank you again for taking the time to contact me.
