“In doing so, we hope to mobilise real public engagement on the power of our money ahead of COP26 in Scotland.” “That is why Make My Money Matter will help people understand their ‘financial footprint’ and empower us all to have pensions we can be proud of. “But from tobacco to fossil fuels, gambling to deforestation, pension funds have invested trillions on our behalf without asking us the crucial question – do these investments create a world that we actually want to live in? “The £3 trillion in our UK pension pot is more than enough to take on the climate emergency, bring hundreds of new drugs to market, or help solve the housing crisis. “Our pensions are powerful, and we must use that power to build a better world. Richard Curtis, co-founder of Make My Money Matter, said: The Ethical Finance Hub is also helping to drive change in Scotland through the Path to COP26 campaign of our parent organisation the Global Ethical Finance Initiative (GEFI). The latest report from the Ethical Finance Hub, Mapping the Responsible Investing Landscape in Scotland, calls for pension providers to play a greater role in ensuring that people are able to access responsible investment. Previous research by the Ethical Finance Hub found that only 13 per cent of Scots who have a pension actively chose their own investment portfolio, but two-thirds of Scots said it is important that banks and other financial institutions take into account ethical, environmental and social issues when making investments. This demand is contrasted with a lack of knowledge, with the survey revealing that nearly three quarters (72%) of Brits who have a pension either do not believe or do not know whether their pension is invested in line with their values. Over half (57%) of the respondents want to see their pensions invested in building a better future for people and the planet post-coronavirus, and a similar number (52%) want their pensions to be part of the solution in tackling climate change. Nearly a third (32%) of people across the UK with a pension said they now care even more about the impact their pension has on people and the planet compared with the start of the crisis – rising to 35 per cent in Scotland.
New research commissioned by Make My Money Matter shows that a growing level of concern around sustainable investment amidst the coronavirus pandemic. The campaign is officially supported by the Edinburgh-based Ethical Finance Hub, and 21 organisations have joined the initiative including Oxfam, WWF, Comic Relief, Triodos Bank, BNP Paribas (UK), Ecotricity, and the Environment Agency Pension Fund, one of the UK’s largest local government pension schemes. The aim of the initiative is to build a movement of individuals demanding a pension they can be proud of organisations aligning their pensions with their values pension funds putting people and the planet alongside returns and the UK Government to ensure that all pension funds report on their commitment to net-zero emissions by 2050. The campaign launched today at an event with speakers Mark Carney, UN Special Envoy for Climate Action and Finance, Tanya Steele, CEO of the WWF UK, and Helen Dean, CEO of Nest – the UK’s largest pension provider whose ethical fund has outperformed its default fund five years running – is a campaign to drive systemic change in the pension industry. Richard Curtis, co-founder of Comic Relief, has launched Make My Money Matter to help make Britain’s £3 trillion pension pot more sustainable, and ensure it is invested in building a better world after the coronavirus pandemic. The campaign includes the Scotland-based Ethical Finance Hub, which is calling on public sector pension schemes in Scotland to commit to investing in line with the Scottish Government’s ambitions to create a greener, fairer and healthier country and show leadership as the country prepares to host COP26.Ahead of COP26 in Glasgow in 2021, the initiative is calling on the pensions industry to commit to net-zero carbon emissions by 2050.New polling shows that nearly three-quarters of Scots either do not believe or do not know whether their pension is invested in line with their values.Make My Money Matter is a campaign working to shift the £3 trillion in UK pensions into sustainable investments by giving millions of pension savers more voice and choice in how their pensions are invested.Richard Curtis, co-founder of Comic relief, has launched Make My Money Matter at an event alongside Mark Carney, former Governor of the Bank of England, and Helen Dean, CEO of Nest, the UK’s largest pension provider.
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