£2T in pension schemes not aligned with Paris Agreement: About £2 trillion invested in UK retirement pots are misaligned with the Paris Climate Agreement.
A current study by Make My Money Matter projects a staggering 71 of 100 major pension funds have not made ‘robust’ net zero emissions commitments yet.
The writers of the study examined at potent commitments in schemes that contain interim emission reductions of 50% by 2030.
The schemes that have not made commitments incorporate major firm in the retail, technology as well as financial services sectors, as reported by the study.
It further shows that even though nearly all of the 15 Defined Contribution (DC) pension providers have made a pledge to net zero, the majority of major Defined Benefit (DB) schemes have failed to set climate goals.
Co-Founder at Make My Money Matter, Richard Curtis stated: “But this report highlights just how far we have to go. With almost 3/4s of leading pensions schemes not yet aligned with the goals of the Paris Agreement, we have to act with urgency to make sure that the trillions in our pensions help tackle the climate crisis, not fuel the fire. We need pensions to be proud of.”
£2T in pension schemes not aligned with Paris Agreement