Climate change: 'Greening' your pension is better than driving an electric car, a vegan diet or giving up flying, research claims

·2-min read

Switching to a "greener" pension could do more to tackle climate change than driving an electric car or having a vegan diet, research suggests.

People with an average pension, which is around £30,000, could each save 19 tonnes of carbon a year by placing their money into a more sustainable fund.

Those with a least £100,000 could save around 64 tonnes a year, which is around nine years' worth of the UK citizen's average carbon footprint, by making the change to a greener pension, according to research published by Make My Money Matter.

Subscribe to ClimateCast on Spotify, Apple Podcasts, Spreaker

A green pension is essentially a fund that is aligned to the Paris Agreement, committed to limiting global warming to 1.5C including net emissions before 2050 and functioning with reduced carbon emissions.

The campaign's study suggests having a greener pension is the "single most effective tool" to tackle climate change.

It shows one person greening an average pension is 57 times more effective in dealing with the climate crisis than having a vegan diet and 20 times better than driving an electric car.

It's also 21 times more impactful than giving up flying, becoming a vegetarian or using a renewable energy provider, Make My Money Matter claims.

Co-founder of the campaign, Richard Curtis, has called on the entire UK pensions industry to make their funds more sustainable and for people's money to be invested in solutions that help save the planet.

He said: "These findings confirm just how important our money is in the fight against climate change. In fact, our pensions are the most powerful weapon we have to help protect the planet.

"We need the entire UK pensions industry to go green - making their default funds more sustainable so all savers can have a pension to be proud of.

"As individuals, we have a critical role to play in driving this change by showing providers that we want our money invested in a way that does good, not harm, so that we can retire into a world that isn't on fire."

Prime Minister Boris Johnson recently signalled the government could break the "triple lock" pledge on pensions by saying there had to be "fairness for pensioners and for taxpayers".

Sky News has launched the first daily prime time news show dedicated to climate change.

The Daily Climate Show is broadcast at 6.30pm and 9.30pm Monday to Friday on Sky News, the Sky News website and app, on YouTube and Twitter.

Hosted by Anna Jones, it follows Sky News correspondents as they investigate how global warming is changing our landscape and how we all live our lives.

The show also highlights solutions to the crisis and how small changes can make a big difference.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting