Our pensions have such power — with £2.6 trillion in the UK and $50 trillion globally — money that’s invested in thousands of companies and assets around the world. They’ve been invested in ways that have helped grow our economy and supported jobs and incomes, goods and services. They have helped support retirement for many, while shaping the world around us. But they have also played a major role in the climate emergency we now face. The driver of the fires and floods, deforestation and extinction level biodiversity loss can, unfortunately, be found in the investment practices of our pensions. The decisions made on how and where to invest our money are contributing to climate destruction; risking both the savings of members, and the quality of the retirement they are saving for.
Times 12th Oct 2021 read more »