‘ESG is too important to ignore’: What a shift to green investments means for your pensions
Pension schemes are being used to hit long-term Environmental, Social, and Governance (ESG) goals, which experts say may put your savings at risk.
Pension schemes in the UK contain over £2.5trn of wealth, and the industry is considered a key part of the shift towards clean energy, according to the Government.
It says pension schemes include the “largest single group of institutional investors in the UK, with significant influence over the flow of investments in the economy.”
Coupled with their long-term investment horizons, they are susceptible to the impacts of climate change.
Becky O’Connor, head of pensions and savings at interactive investor, added the Paris Agreement goal of limiting global temperature rises will force changes across the retirement landscape.
She said: “The global energy transition has to happen. Even the head of the International Energy Agency, Faith Birol, has said that all remaining oil must be left in the ground if we are going to limit global temperature rises to within manageable levels.
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