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Pensions Bill

I support the amendments in principle, and declare an interest as vice-chair of the Ethical Trading Initiative. I, too, have listened carefully to the debate, and I agree with the previous speaker that there is a bit of heart and head operating in the Chamber. However, I think everyone operates from the same premise that we do not want to undermine the scheme. The reality at the moment is that trustees can take only one decision. They have the fiduciary responsibility, and any departure from that, as we know from a number of court cases that have demonstrated this, leaves them liable to action. In the 21st century, there should be an ethical investment option. Ethical investment is alive and well and has a proven track record, so no one wants to introduce a responsibility that would undermine this scheme. However, there is a need to consider these issues seriously, and I hope that the consultation that is being offered will be in-depth and that some attempt will be made to move towards this and embrace these principles.