Jeremy Corbyn and Mr McDonnell backed a campaign to stop investments in fossil fuels

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And figures show that Labour councils nationwide invested tens of millions in environmentally-unfriendly industries – just days after Mr Corbyn and shadow chancellor John McDonnell joined a campaign to stop parliamentary pensions being staked in CO2-emitting companies.

Last week they backed Divest Parliament, a group trying to persuade the Parliamentary Contributory Pension Fund to drop investments in fossil fuels, including a £5.6million stake in BP and £5million in Royal Dutch Shell shares.

The Labour leader said the UK “must show leadership in confronting the existential threat posed by climate change”.

Mr Corbyn added: “One contribution we can make as MPs is to end the investment from our pension fund in fossil fuel industries, which is why I’ve signed the pledge.

"To help protect our planet, we must wean our economy off its fossil fuel dependence and do more to move towards clean and renewable energy.”