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British Parliament pension fund cuts fossil fuel investments

Parliament’s pension fund has made record investments in renewable energy and cut its exposure to fossil fuel companies to bring MPs’ pensions in line with the government’s climate action targets.

The move is a victory for the 360 serving and former MPs who have been pushing for the pension fund’s investments to fall in line with the government’s climate agenda.

The annual report showed that the fund has decreased its investment in BP by almost two-thirds in the past year, to £4.4m, and cut its holdings in Shell by a quarter, to £8m.

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