Question to the Department for Work and Pensions:

To ask the Secretary of State for Work and Pensions, what estimate his Department has made of the value of UK pension fund assets invested in fossil fuels that are at risk of becoming stranded.

The Department has not produced specific estimates on the proportion of UK pension scheme assets invested in fossil fuel-related activities, such as coal-fired power generation or fossil fuel production.

As part of the 2024 Mansion House reform package, the Government consulted on UK Sustainability Reporting Standards aligned with international sustainability standards, and our manifesto commitment to mandate climate transition plans. The Government are now analysing stakeholder feedback. Together, these initiatives will support the UK’s net-zero goals and broader green agenda and are expected to influence the investment landscape in which pension schemes operate.