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Make My Money Matter urges UK s 81 largest occupational pension schemes to target net zero
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Pension funds in the UK are facing growing pressure to decarbonise their investments
Green pensions campaign calls on defined benefit schemes of a number of major emitters including BP, ExxonMobil, Shell and British Airways to set net zero goals
The Make My Money Matter campaign has written to 81 of the UK s largest occupational defined benefit (DB) pension schemes, urging them to set robust net-zero targets ahead of the crucial COP26 UN climate summit in November.
The campaign initiative, which was set up by screenwriter and director Richard Curtis, said a large number of UK pension funds had yet to make dedicated commitments to aligning their investment portfolios with the Paris Agreement s climate goals, despite growing momentum in the sector towards setting net zero portfolio targets.
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Top firms sign up to Make My Money Matter Green Pensions Charter businessgreen.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessgreen.com Daily Mail and Mail on Sunday newspapers.
While the pensions sector is one of the most vulnerable to climate change risks, it has the ability to single-handedly shift the conversation on climate, experts say.