{"id":125546,"date":"2024-02-21T09:10:54","date_gmt":"2024-02-21T07:10:54","guid":{"rendered":"https:\/\/tietopankki.crnet.fi\/fi\/yleinen\/majority-of-uk-pension-firms-have-inadequate-climate-plans\/"},"modified":"2024-02-21T09:10:54","modified_gmt":"2024-02-21T07:10:54","slug":"majority-of-uk-pension-firms-have-inadequate-climate-plans","status":"publish","type":"post","link":"https:\/\/tietopankki.crnet.fi\/en\/yleinen\/majority-of-uk-pension-firms-have-inadequate-climate-plans\/","title":{"rendered":"Majority of UK pension firms have \u2018inadequate\u2019 climate plans"},"content":{"rendered":"<div class=\"mp_wrapper\">\n  <div class=\"mepr-unauthorized-message\">\n    <p>You are unauthorized to view this page.<\/p>\n  <\/div>\n  <div class=\"mepr-login-form-wrap\">\n            \n<div class=\"mp_wrapper mp_login_form\">\n                  <!-- mp-login-form-start -->     <form name=\"mepr_loginform\" id=\"mepr_loginform\" class=\"mepr-form\" action=\"https:\/\/tietopankki.crnet.fi\/en\/login-2\/\" method=\"post\" data-trp-original-action=\"https:\/\/tietopankki.crnet.fi\/en\/login-2\/\">\n            <div class=\"mp-form-row mepr_username\">\n        <div class=\"mp-form-label\">\n                              <label for=\"user_login\">Username<\/label>\n        <\/div>\n        <input type=\"text\" name=\"log\" id=\"user_login\" value=\"\" \/>\n      <\/div>\n      <div class=\"mp-form-row mepr_password\">\n        <div class=\"mp-form-label\">\n          <label for=\"user_pass\">Password<\/label>\n          <div class=\"mp-hide-pw\">\n            <input type=\"password\" name=\"pwd\" id=\"user_pass\" value=\"\" \/>\n            <button type=\"button\" class=\"button mp-hide-pw hide-if-no-js\" data-toggle=\"0\" aria-label=\"Show password\">\n              <span class=\"dashicons dashicons-visibility\" aria-hidden=\"true\"><\/span>\n            <\/button>\n          <\/div>\n        <\/div>\n      <\/div>\n            <div>\n        <label><input name=\"rememberme\" type=\"checkbox\" id=\"rememberme\" value=\"forever\" \/> Remember Me<\/label>\n      <\/div>\n      <div class=\"mp-spacer\">&nbsp;<\/div>\n      <div class=\"submit\">\n        <input type=\"submit\" name=\"wp-submit\" id=\"wp-submit\" class=\"button-primary mepr-share-button\" value=\"Log In\" \/>\n        <input type=\"hidden\" name=\"redirect_to\" value=\"\/en\/wp-json\/wp\/v2\/posts\/125546\" \/>\n        <input type=\"hidden\" name=\"mepr_process_login_form\" value=\"true\" \/>\n        <input type=\"hidden\" name=\"mepr_is_login_page\" value=\"false\" \/>\n      <\/div>\n    <input type=\"hidden\" name=\"trp-form-language\" value=\"en\"\/><\/form>\n    <div class=\"mp-spacer\">&nbsp;<\/div>\n    <div class=\"mepr-login-actions\">\n        <a\n          href=\"https:\/\/tietopankki.crnet.fi\/en\/login-2\/?action=forgot_password\"\n          title=\"Click here to reset your password\"\n        >\n          Forgot Password        <\/a>\n    <\/div>\n\n      \n    <!-- mp-login-form-end --> \n  <\/div>\n      <\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<div class=\"smart_content_wrapper\">\nThe majority of major UK pension providers have inadequate climate plans in place, risking billions of pounds by failing to tackle deforestation or to phase-out financial support for fossil fuels. The Climate Action Report \u2013 developed by sustainability research provider Profundo in partnership with green pensions campaign Make My Money Matter \u2013 has found that most of the UK\u2019s major pension providers are failing on climate action.<\/p>\n<p>Published on Wednesday (21 February), the report assessed and ranked the public climate strategies of the UK\u2019s 20 largest workplace providers. Collectively, these firms account for more than \u00a3500bn in assets, and have more than 15 million active members. Ranked on commitments to 1.5C pathways, disclosure of carbon emissions, target-setting investment plans, nature and fossil fuel phase-outs, not one provider was deemed to be taking a leadership role in climate action. This lack of action has sparked concerns that pension providers are funneling investments into initiatives that fail to respond to the climate crisis, putting billions of pounds at risk.<\/p>\n<p>Make My Money Matter\u2019s co-founder Richard Curtis said: \u201cClimate leadership is not just important for the planet \u2013 it\u2019s popular too. But the fact that 17 of the UK\u2019s top 20 providers have inadequate or poor climate plans tells you all you need to know about how seriously the industry is taking this issue. \u201cThe public will rightly be worried about these results, and we hope this ranking acts as an urgent wake up call for the pensions industry to up its game on climate change. In doing so they can help protect the planet and provide savers with pensions they can be proud of.\u201d UK-based pension schemes have more than \u00a388bn invested in fossil fuel firms, the equivalent of \u00a33,000 per pension policyholder.<\/p>\n<p>Of the 20 leading providers examined in the latest report, only Aviva, Legal &amp; General and Nest were found to have \u2018adequate\u2019 plans in place. In total, 13 providers, including Royal London, Prudential and Standard Life \u2013 have plans deemed inadequate. Mercer, Hargreaves Lansdown, The People\u2019s Pension and SEI, who manage the pensions of more than two million savers collectively, were named as the worst four performing organisations.<\/p>\n<p>Last year, research from the Economics of Energy Innovation and System Transition (EEIST) project, led by the University of Exeter, found that current net-zero transition models used by pension funds assume that existing climate-related trends will continue gradually, but fail to account for various \u201ctipping points\u201d that could trigger severe climate and ecological breakdown. Tipping points could also deliver positive disruptions, such as the rapid development of new green markets. Nonetheless, pension funds are failing to examine many of the risks and opportunities of the net-zero transition.<\/p>\n<p>Additionally, research from Carbon Tracker found that widespread reliance on \u201cflawed research\u201d means that investment decisions today are ignoring the economic and physical effects of a changing climate. As a result, pension funds are risking the retirement savings of millions of people.<\/p>\n<p>Source: <a rel=\"noopener\" href=\"https:\/\/www.edie.net\/majority-of-uk-pension-firms-have-inadequate-climate-plans\/\">edie.net<\/a> <\/div>\n<p>The post <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\/yleinen\/majority-of-uk-pension-firms-have-inadequate-climate-plans\/\">Majority of UK pension firms have \u2018inadequate\u2019 climate plans<\/a> appeared first on <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\">Vastuullisuusuutiset.fi<\/a>.<\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22,1],"tags":[9647,13492,579,606,607,608,655],"class_list":["post-125546","post","type-post","status-publish","format-standard","hentry","category-news","category-yleinen","tag-climate-plan","tag-pension-firm","tag-uk","tag-vau_viikkokatsaus","tag-vauen","tag-vaufien","tag-yleinen"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/posts\/125546","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/comments?post=125546"}],"version-history":[{"count":0,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/posts\/125546\/revisions"}],"wp:attachment":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/media?parent=125546"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/categories?post=125546"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/tags?post=125546"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}