“I support the right of public bodies to make investment decisions informed by ethical considerations. This can include decisions not to invest in climate-destroying fossil fuel companies or in the arms industry or to take account of breaches of international law or human rights abuses.”
By Apsana Begum MP
Today in Parliament, I voted against an amendment to a Bill proposing to prevent pension administrators from pursuing ethical investment policies.
New Clause 1, tabled by Robert Jenrick MP, inserts guidance to public service pension scheme managers on investment decisions, “including guidance or directions on investment decisions which it is not proper for the scheme manager to make in light of UK foreign policy and defence policy.”
Human rights experts have highlighted that the wording is so broad in its reference to “UK foreign and defence policy” that it could be easily weaponised against any human rights campaign raising concerns about pension investments and will even prevent companies from investing ethically.
I support the right of public bodies to make investment decisions informed by ethical considerations. This can include, for example, decisions not to invest in climate-destroying fossil fuel companies or in the arms industry or to take account of breaches of international law or human rights abuses (such as, for example, the Chinese government’s treatment of the Uighur people or the Isreali’s government’s illegal occupation of Palestinian territory and treatment of Palestinian people).
In particular, in my opinion, it is right to criticise any government if there is evidence that they are pursing policies that constitute clear human rights violations.
- Apsana Begum is the MP for Poplar and Limehouse, you can follow her on Instagram, Facebook and twitter.
- This statement is in relation to the Public Services Pensions & Judicial Offences Bill: Amendment on Guidance to Public Service Pension Scheme Managers on Investment Decisions.
