Although Parliament recently declared a ‘climate and environmental emergency’, the £700m fund still holds fossil fuel investments, with the largest single holding at £11.68m in BP, alongside a £10.95m holding in Royal Dutch Shell.
The ‘Divest Parliament’ campaign, supported by a cross-party group of more than 250 MPs, is calling on the fund to disclose investments in carbon-intensive industries, and publicly commit to phasing out fossil-fuel investments.
Communications agency Greenhouse PR supported a debate in parliament that called on the Pension Trustees to review the fund’s investment in fossil fuels.
It resulted in new signatories for the Divest Parliament Pledge and widespread coverage in national and investment trade media – including an op-ed by Liberal Democrat MP Sir Ed Davey - exceeding coverage targets by 380 per cent.
The agency hopes the campaign will pave the way for the £217bn funds and investments in local authority pensions to also stop investing in fossil fuels.
Advisor to Sir Ed Davey, Katie Critchlow, said: "The high-profile media coverage generated by Greenhouse is opening doors and conversations to push the fossil fuel divestment agenda to the next level in Westminster.
"As a result of the fantastic communications support from Greenhouse, Sir Ed Davey has been invited to speak at a huge Responsible Investor conference on ‘greening’ the financial system."
Will Aitchison, account manager at Greenhouse PR, said the agency is committed to using the power of communications to effect real change.