MPs are urging pension plans to reduce the economic impact of the UK’s net zero plan

Unless billions of pounds are invested in communities far from carbon-based industries such as steel and automotive industries, public sector pension schemes could widen divisions, lawmakers said.

The party argues that Britain’s cities and regions could be rapidly degraded by low-carbon technologies, which have a similar fate for mining towns in the 1980s. Impact of Investments on Vulnerable Families and Businesses.

In a report focusing on investment decisions made by local authorities, presentations by retired experts, thinkers, and members of parliament indicated that “the lack of understanding of social and economic dimensions has led to a zero-sum political response. ”.

It will come a day after the government announces its long-awaited strategy to reach a net zero by 2050. The ministers’ actions have been criticized by the Climate Change Committee (CCC), an independent body that advises ministers on how to access the network. Zero said that because it could not meet the challenge, members of parliament could still leave some communities without resources to make the transition.

The report states: “b Gilts Jannes Protests in France and other countries, such as the closure of coal in Poland and oil protests in the UK.

The investigation has often heard that climate change can be tackled without a fair transition. ‘We will not make the transition because society will not accept it,’ said Gerd Deben, chairman of the Climate Change Committee.

“The government must clearly recognize and express a strong commitment to the transition to justice,” said the five strong parliamentarians.

Some of the largest in the UK were told that funds in the local pension scheme (LGPS) should have the same commitment and how their investments would affect equality and that the government should consider plans to expand the regions by supporting businesses to boost regions. Cut off carbon emissions.

LGPS has assets of ገንዘ 6.2m with 88 funds and 27 276 billion by the end of March 2020.

Unions and business leaders have personally expressed fears that the rapid move to carbon tax and green investment, excluding industries that use large amounts of fossil fuels, will not hurt the UK’s manufacturing sector unless funding is provided to modernize and develop new equipment. Technologies.

Clever Betts, chairman of the All-Party Parliamentary Group, told the local authority’s pension fund: “Major industrial changes are coming down the track. In order to prevent a repeat of the mistakes of the 1980s that left workers and communities behind, the government must plan to move to an orderly and fair zero.

“As responsible long-term investors, we need to make sure we do our best to get a net zero,” said Dog McMurdo, an advisor to the chairman of the local authority Pension Fund Forum. However, we cannot do it alone. The scale of the challenge and the potential opportunities require lasting commitment from the entire community and from the government.

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