Members of the union for actors and performers, Equity, is calling on its pension provider Aviva to divert its default fund away from fossil fuels and move towards clean energy.

The campaign launched today, is backed by high-profile actors such as Mark Rylance, Zoë Wanamaker and Maxine Peake. Members want Aviva to create a low-carbon fund for their combined assets worth £110m, which Wanamaker called a “no-brainer”.

Supported by ShareAction, the Pension Power campaign, seeks to raise awareness of how pensions are invested and the ethical options that are currently available to actors in the Equity union. In the long term, the campaign aims to encourage the default pension fund, which is the automatic fund which actors pay into, to divert its investments away from fossil fuel and into clean energy.

A grassroots effort, the campaign was set up by performers, writers and actors, including Will Attenborough, Leila Mimmack, Jack Monaghan, Steffan Donnelly and Lara Sawalha. The group has been passing motions at local Equity union branches to build support for the campaign democratically.

While this campaign is not officially endorsed by Equity until it is voted in by the council, the union has been highly supportive of the activism and campaigning taking place, ShareAction said. ShareAction also warned of the financial risks of investing in fossil fuels, which could affect what pension savers receive when they retire.

“Only this year, the UK government announced that they will ban all sales of diesel cars by 2040, with similar commitments made in India, Norway and France. As economies move away from oil and gas, companies which extract fossil fuels risk being left behind with millions invested in infrastructure and projects which are no longer viable,” it said.

In response, Aviva head of workplace propositions Matt McGill explained: “To change the default investment fund in the Equity Pension scheme there needs to be a decision by the management of the Equity scheme and their advisers. The default in place at the moment has been created in conjunction with the Equity scheme and their adviser. We offer a wide range of flexible solutions and are happy to work with this scheme and others to meet their needs and the needs of our customers.

“If the scheme requests that Equity members want less exposure to companies that make profits from fossil fuels we can look at making changes to their default. If that isn’t the case, individuals within the scheme are able to make their own investment choices to suit their own personal views.”

An Equity spokesperson said: “The Equity Council will consider a formal motion on the pension scheme on 7 November and, if endorsed, we will seek a meeting with Aviva regarding the default fund.”

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