UK pension schemes are funding more emissions than the entire UK’s carbon footprint
The analysis suggests pension schemes invest an estimated £112 billion in fossil fuels.
That means for every £1,000 invested around £60 supports the fossil fuel industry.
Richard Curtis, Co-Founder at Make My Money Matter, commented: “While we’ve seen green shoots of progress with voluntary net zero commitments, £2 trillion remains in schemes which have failed to act, undermining the UK government’s own net zero targets.”
Last week, new research found that almost 70% of leading UK schemes have not made robust net zero commitments, leaving nearly £2 trillion misaligned with the Paris Agreement.
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