Action group launched to encourage climate-friendly pension investment options

Hymans Robertson has announced the launch of a new action group, The Climate Impact Initiative, which aims to encourage providers to make climate-friendly impact investment choices available to all savers regardless of scheme size.

The action group is seeking support from pension schemes to grow the voice of asset owners and compel providers to address the needs of defined contribution pension savers, calling on trustees and governance committees to register their support for the campaign.

It has already received support from Make My Money Matter (MMMM), Pensions for Purpose, the Impact Investing Institute, and the trustee of the Reach Pension Plan.

Commenting on the launch, Hymans Robertson senior investment consultant, Callum Stewart, emphasised that whilst a number of providers have made “great strides” in this by making climate-friendly options available, there is “so much more that the industry could be doing" to help individual savers have more of an impact on climate change relative to existing funds.

He stated: “Research shows that up to four million pension savers are in plans with no clear access to climate friendly options, yet we know this is something that an increasing number of savers want from their pension funds.

“We believe that working as a united industry, with one voice, can create real change and together we can encourage providers to make climate options available to all members and make a difference.

“We are seeking support from trustees and governance committees to join our action group and provide their support to this important area. Together, we can compel providers to address the needs of savers, especially those members wanting to take more action to address climate change.”

Adding to this, MMMM campaign director, David Hayman, commented: “We know that savers across the UK want to make their money matter. It’s critical that all pension providers respond to this call and offer cleaner, greener pensions to their members.

“We believe that this initiative will help raise awareness of the power of our pensions and provide consumers with more voice and choice over where their money goes.

“This is an important step to ultimately ensuring that all pensions are climate friendly; building a healthy planet as well as securing healthy returns.”

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