David T. C. Davies (Monmouth) (Con)

6. What the purpose is of the resolution co-filed by the Church Commissioners to commission ExxonMobil to carry out an impact assessment on the effect of climate change policies on that company’s portfolio and strategy. ( 904805 )

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Mrs Spelman

The Commissioners have co-filed a resolution with the New York State Common Retirement Fund so that ExxonMobil’s shareholders can indicate to the company their wish to see better corporate reporting on the long-term risks that the transition to a low-carbon economy presents to Exxon. This includes a scenario in which the implementation of the Paris agreement restricts warming to below 2°C.

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Mrs Spelman

My hon. Friend and I perhaps do not share the same interpretation of the Bible when it comes to belief in climate change as a phenomenon. When I shortly visit the diocese of the Arctic, I shall have very much in mind the recent news that the British research station is in danger of sinking into the sea, as was shown in a documentary on television last night. Will my hon. Friend recognise that the Church Commissioners have been commended with a number of prizes for their work on an ethical investment strategy, which includes taking account of the risk that climate change poses to investments?

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