National Assembly for Wales

To propose that the Senedd:

1. Notes:

a) that the Welsh Government was the first in the world to declare a climate emergency, recognising the serious threat climate change poses;

b) that public sector pension schemes continue to invest in fossil fuels and, for many years, campaigners have urged schemes to disinvest;

c) that the Welsh pension partnership moved quickly to withdraw investment from Russian holdings and has previously divested from coal, thus demonstrating that it is possible for pension funds to make these decisions;

d) that Members of the Senedd took the initiative to divest their own pension funds from fossil fuels;

e) that if public sector pension schemes in Wales disinvest, Wales would be the first nation in the world to achieve this, demonstrating to fund providers the need to create fossil fuel free investment products.
 
2. Calls on the Welsh Government to work with the public sector to agree a strategy to decarbonise pensions by 2030, thus bringing them into line with current public sector net-zero targets.