Campaign group Make My Money Matter and global climate change movement Count Us In have joined forces to unveil the Green Pensions Charter.
This will see major brands work with their pension providers to secure greener options in support of a net zero pension industry.
So far, 50 companies have already signed up including Ikea, Ted, Save The Children, and EY.
Richard Curtis, co-founder of Make My Money Matter, 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 £2.6trn ($3.7trn, €3trn) circulating in UK pension schemes must be invested in ways which build a healthy planet, as well as deliver healthy returns.
“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.”
The move follows research by the campaign group which discovered that 44% of pension holders, amounting to around 18 million people, would switch to a more sustainable pension if given the option.
Editor’s Note: In association with our sister publications, International Adviser has launched a Campaign for Better Governance.
It will see us shine a spotlight on investment companies as well as the businesses in which they invest.
