MLA’s pensions are being divested from fossil fuel companies in a victory for the Green Party in Northern Ireland.
North Down MLA Steven Agnew said the decision to move to the fund to a provider that invests in low carbon schemes is a “win-win” in the fight against climate catastrophe.
He added: “There is a mere 11 years to make the changes needed to avoid catastrophic climate breakdown.
“The Stormont stalemate has prevented us from addressing climate breakdown through locally enacted legislation. However, I’ve focused on what can be done.
“That’s why I’m delighted that I have convinced the NIAMPS Trustees of the importance of divesting Assembly pensions from fossil fuel companies.”
Mr Agnew congratulated the Trustees’ “vision” saying: “This is a win-win situation as globally low carbon investments have been outperforming traditional schemes over the past five years.
“In fact many organisations are now seeing investment in fossil fuels as a financial risk with Mark Carney, Governor of the Bank of England warning of the risk of ‘stranded assets’ – essentially where fossil fuel reserves become worthless as climate change policies take effect.
“I am keen that we get this right,” he continued.
“There will now be a range of options for the NIAMPS Trustees from minimal divestment to divestment max.
“I urge the Trustees recognise that both financially and ethically full divestment is the right option.”
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