On the go: Make My Money Matter has teamed up with fellow climate change campaigner Count Us In to launch a green pensions charter aimed at encouraging companies to align their pension fund investments with net-zero carbon targets.
Fifty companies, including Ikea, EY, Octopus Group, BrewDog, TED, the World Wildlife Fund and Oxfam, have pledged to invest their pension funds more sustainably and to support the growing call for all pension providers to commit to net-zero emission targets in the lead up to COP26.
Each year £20bn is invested through company pension schemes, but only 5 per cent of businesses align these contributions with their values or sustainability targets, according to Make My Money Matter.
Co-founder Richard Curtis said: “The launch of the world’s first green pensions charter brings together a pioneering mix of brands, organisations and even football teams, all of whom have one thing in common — a commitment to make their money matter.
“This charter supports the growing demand across society for pensions we can be proud of, and acts as a critical reminder to the industry that the £2.6tn circulating in UK pension schemes must be invested in ways that build a healthy planet, as well as deliver healthy returns.”
He added: “With a UK-hosted COP26 on the horizon, we hope our charter encourages companies to follow in the footsteps of Ikea, EY and Octopus Energy to ‘green’ their pensions, and show the pensions industry that their customers want them to take serious action on the climate crisis.”
Chris Hulatt, co-founder of Octopus Group, commented: “As gatekeepers to trillions of dollars, pension funds and their members have a critical role to play in fighting climate change.
“If we can allocate funds to invest in helping to deliver the energy transition, then there is a real opportunity for us to create a sustainable green economy and address the climate crisis.
“People are becoming so much more aware and conscious of the actions they can take to protect our planet — allocating your pension to areas that can really make a difference needs to be part of this movement,” Hulatt continued.
“As an investor in renewables and as a B Corp company, we believe you can invest with impact helping to build a more sustainable world, both now and for future generations, while also delivering returns for your investors.”
